Jim Rogers started trading the stock market with $600 in 1968.In 1973 he formed the Quantum Fund with the legendary investor George Soros before retiring, a multi millionaire at the age of 37. Rogers and Soros helped steer the fund to a miraculous 4,200% return over the 10 year span of the fund while the S&P 500 returned just 47%.

Tuesday, December 14, 2010

Jim Rogers Bets on The Renminbi

Jim Rogers Bets on The Renminbi
Jim Rogers : "...The renminbi. I own and every chance I get I buy more renminbi because it's not that easy to buy the renminbi. You can't just pick up the phone and buy more renminbi, but when I can and I'm there I buy more renminbi. I don't like to use the word "safe" talking about investments but probably the least risky investment I know of any kind is to own the renminbi. I don't see how one can fail by owning the renminbi over the foreseeable future. ..."
How come?
Jim Rogers :"Well, first of all, it's a blocked currency and some people say it's artificially low. The Chinese are the largest creditor nation in the world. They have a huge balance of trade surplus so they are doing many things right so normally it means a currency will rise. They're not letting it rise as much apparently as they should, so as they continue to free it up, and they are freeing it up, you are going to see the renminbi go higher and higher. In the meantime, I get paid interest for owning the renminbi."
Via The Street.com>>>>
Jim Rogers "the 19th century was the century of the UK , the 20th century was the century of the US , the 21 st century is going to be the century of China "
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