You just look around, look out the window, and you see that nearly every currency in the world is down a lot against the U.S. dollar except the Chinese Renminbi, and the Hong Kong dollar, of course, which is tied to the U.S. dollar.
I don’t know if it’s somebody sat around, and plotted, and said, “Let’s have a currency war.” They just said, “What we need to do is print a lot of money,” without realizing it’s going to cause currency fluctuations. That’s what the Japanese are doing and other people, as well.
The consequences, Central Banks around the world printing a lot of money for better or for worse is that more people are going into the U.S. dollar, which I own too, although I have no confidence in the U.S. dollar long term.
Jim Rogers is a smart investor who co-founded the Quantum Fund with George Soros in 1973. By 1983 the fund gained more than 4000 percent.
It’s astonishing to me who’s been around Switzerland for over 40 years you know that you see the Swiss franc and the Swiss National Bank doing things that were inconceivable a few decades, even a few years ago – that they would debase the currency, that Swiss politicians would buy votes. But they are doing it. It is just making Switzerland less attractive as an investment destination and as a place for people to put their money.
I mean Switzerland, more or less, had a monopoly on managing money, international money anyway, for decades, many decades. And now, of course, in Asia . . . new competition is rising – Singapore, Hong Kong, other places. But the Swiss are just destroying themselves.
Now politicians and bureaucrats have destroyed themselves many times throughout history in many countries of the world but it’s always a little astonishing just to sit back and watch it happen before your very eyes.
You can say to them, “Guy, you’re making a terrible mistake,” and they do it anyway. It’s amazing to me. I am not bullish, I am not bullish on the Swiss franc, which is guess is the ultimate answer to your question.
VIA http://www.trefis.com/stock/spy/articles/269603/undeniable-proof-that-absolute-power-corrupts/2014-12-15
Jim Rogers is a smart investor who co-founded the Quantum Fund with George Soros in 1973. By 1983 the fund gained more than 4000 percent.
I think we all know – that markets go up too far, and they go down too far. Once you start building their momentum, panic develops. People get more and more scared.
As far as I’m concerned, the Central Bank in Russia has been doing the right thing. They said they were not going to intervene anymore. [BUT recently] They intervened for the first time in a while. But I think it’s very smart – not intervening. Let it collapse. Let it find its own level. And then we’ll have a staggering rebound.
Jim Rogers is a smart investor who co-founded the Quantum Fund with George Soros in 1973. By 1983 the fund gained more than 4000 percent.
I own some Russian stocks. To my astonishment, the main one I own is not even down in all this. I guess it’s because it’s – it sells in dollars. Its expenses are in rubles, and it sells in dollars. So that’s helping it, and that’s – Aeroflot is another one I own, which is also sort of benefiting these days.
Jim Rogers is a smart investor who co-founded the Quantum Fund with George Soros in 1973. By 1983 the fund gained more than 4000 percent.
Now and then a time comes when doing nothing is the wisest course.
Most successful investors, in fact, do nothing most of the time. You bought that stock ten years ago, and you did nothing for the next ten years – you did nothing but watch what was going on, nothing but watch for changes. That is how you make money.
Jim Rogers is a smart investor who co-founded the Quantum Fund with George Soros in 1973. By 1983 the fund gained more than 4000 percent.
People are constantly asking me what to invest in, and I always answer the same way. I say: Do not listen to me – do not listen to anybody.
The way you become a successful investor is by investing only in what you yourself have a wealth of knowledge about.
Jim Rogers is a smart investor who co-founded the Quantum Fund with George Soros in 1973. By 1983 the fund gained more than 4000 percent.
The best way to [invest in agriculture] is buy a farm. You can buy stocks, if you buy the right companies seed companies, fertilizer companies. You can buy countries. Some countries are more agriculture oriented than others. Pakistan is a country that lives and dies on cotton more than anything else. So it depends on the country.
If your going to buy a Lake-house, I would buy my lake-house in Oklahoma not in Massachusetts because stocks are at all time highs. So lake houses in Oklahoma or Nebraska are probably much cheaper than in Massachusetts. You can get a Lamborghini dealership in Iowa because the farmers are going to be driving Lamborghini's in my view in the future.
For most people its probably best to buy an Index. Many studies have showed that an Index investing is far away the best way to invest in anything- stocks, bonds, currencies, commodities, anything else. And there are plenty of Exchange Traded products which make it very easy to invest in commodities.
Jim Rogers is a smart investor who co-founded the Quantum Fund with George Soros in 1973. By 1983 the fund gained more than 4000 percent.
I should probably try to sit down and figure out what to buy in Russia again. It has had a collapse, as you know, but I suspect if you look at things like Russian ETF's, they are down at previous lows, but not making new lows. And a lot of that is because of the ruble.
To Russia's credit, Russia has not been sitting around supporting the ruble in any big way.
My view of markets is you let them clean themselves out, let the system find a clearing price. To my astonishment, the Russians are being more capitalist than the Western capitalists. They are letting the currency find its own bottom. That will change soon. It will find its own bottom, and then Russia will be a good place to invest.
Jim Rogers is a smart investor who co-founded the Quantum Fund with George Soros in 1973. By 1983 the fund gained more than 4000 percent.
If the stock market goes down — say, you pick the number, 13%, 23%, who knows — everyone will be screaming, and Mrs. Yellen and her friends will say, 'Oh, we're sorry, we didn't mean to hurt you,' and they will loosen up again. One way or the other, the markets will heave a sigh of relief, have a big rally, maybe even turn into a bubble, at which point I hope I'm smart enough to try to short stocks in the US.
Jim Rogers is a smart investor who co-founded the Quantum Fund with George Soros in 1973. By 1983 the fund gained more than 4000 percent.