TIP139: JIM ROGERS

MACRO, GOLD, JUNK BONDS, INDIA, & CURRENCIES

21 May 2017

In this episode, Preston and Stig talk to world renown investor, Jim Rogers.  Rogers rose to a legendary status in the 1970’s when he obtained a 4200% return during his ten-year ownership of the Quantum Fund.  During this same period of time, the market only advanced 47%.  After Roger’s time at the Quantum Fund, he became a professor at Columbia Business School. In 1998, Jim formed the Rogers International Commodity Index at a time when commodities were severely depressed. During the following decade, his decision to create the index proved extremely lucrative.

In addition to being an investment titan, Rogers is also a Guinness Book Record holder for traveling around the world on his motorcycle.  He is the author of numerous best-selling investment books.

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IN THIS EPISODE, YOU’LL LEARN:

  • Jim Rogers’ positions in the market.
  • Why he is holding gold, but does not add to his position.
  • If India is a good financial market to invest in.
  • What happened when Preston followed Jim’s advice to short junk bonds in 2015.

TRANSCRIPT

Disclaimer: The transcript that follows has been generated using artificial intelligence. We strive to be as accurate as possible, but minor errors and slightly off timestamps may be present due to platform differences.

Preston Pysh  0:02  

Hey, how’s everyone doing today? So we are super excited about today’s guest, Jim Rogers. For anybody that’s in finance, they definitely know who Jim is. 

Jim was the Co-founder of the Quantum Fund with the legendary investor George Soros, from 1970 to 1980. During that 10 year span, Jim and George Soros had a 4,200% return when the S&P 500 only had a 47% return. So, they definitely went down in the books as being two of the brightest traders during the 1970s and into the 1980s. 

After that time, Jim retired and he went on to teach at Columbia Business School for a little bit. Then, he started doing some amazing things where he literally drove around the entire planet, on a motorcycle, and then he did it again in a car. 

He’s written numerous best selling books. He’s an expert in commodities and currencies and he really doesn’t need too much of an introduction because I’m pretty sure anyone listening to this show probably already knows who he is.

Stig Brodersen  1:09  

In this episode, Jim Rogers reveals what he’s currently investing in. We’ll talk about why he is currently holding gold. But that’s not actually his position, and we’re going to talk about India, and whether or not it’s a good financial market to invest in. 

Finally, we got to talk about what happened when Preston followed Jim’s advice to short junk bonds back in 2015.

Preston Pysh  1:31  

Let’s go ahead and hop to it.

Intro  1:35  

You are listening to The Investor’s Podcast, where we study the financial markets and read the books that influenced self-made billionaires the most. We keep you informed and prepared for the unexpected.

Preston Pysh  1:56  

I can’t even tell you how thrilled I am to have you on the show, Jim. I’m a huge fan. I’ve been reading your material for years at this point. 

The first thing I want to talk to you about is gold. A lot of people are saying to buy gold, and you’re one of the few that I’ve read over the last couple years that you have a position in gold, but you’re very hesitant to increase that position at this point in time. We’re recording this, for people listening to this in the future, we’re at the second quarter of 2017, just to kind of give you a reference of time here. 

So, Jim, you haven’t been increasing that position and I have a similar opinion as you as to not taking a position in gold at this point. But I’m really curious to pick your mind as to what are some of those critical things that you’re looking for that would change that opinion for you, where you then start taking a position again.

Jim Rogers  2:47  

What would change? I don’t know. Gold claps to $950 and out. I would probably rush in and buy a lot of gold. Price, I guess, is the main determinant or time, if this were 2019, I might rush in and buy some gold. 

Gold hasn’t had enough of a correction yet for me, and there’s still too many bugs. It has too many bulls, you know, it’s everybody… Millions of gold bugs out there and they give up. I hope I’m smart enough to buy gold. 

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