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%.

Sunday, January 30, 2011

Jim Rogers : The World is running out of Oil

Jim Rogers : "...Justin, those reserves off the coast of Brazil are wonderful if you own them, but even the wildest and most optimistic estimates would only add one year's reserves to the world. The world is using 86 million barrels of oil everyday Justin. Even if it stays static or goes down a little bit, those finds off Brazil will make somebody rich, but they are not going to solve the world's problems. And, if you know of a lot of oil in the Arctic, please tell us where it is, but it is going to be very difficult to get it out of there...."
in www.bbc.co.uk

Davos forum closes upbeat today

The world economic forum wraps up in Davos Switzerland today. CCTV correspondent Jack Barton reports on what conclusions the world's best financial minds arrived at as political and business leaders try to address the world's challenges.

The world economic forum is winding up in Davos.

So what were the outcomes?

Overall there was a consensus that global growth may dip a little in comparison to 2010 but will remain strong.

Professor Joseph Stiglitz, Nobel Prize Winning Economist, said, "The reason for that is the strength of the emerging markets China India, Asia and Latin America".

So what about the advanced industrial countries?

Professor Joseph Stiglitz, Nobel Prize Winning Economist, said, "The advanced industrial countries Europe and the united states are going to be suffering from a malaise. There will be growth but it will be to weak to do much about the pervasive unemployment".

With consumers now spending again the recovery is also fuelling inflation right across the globe.

Pascal Lamy, WTO Director-General, said, "We are period of medium to long term rising in food prices and commodity prices for the basic reason that demand is growing faster than supply".

The forum did not deliver any answers on how to lower inflation without dampening the recovery in the US and Europe or what balance of stimulus or austerity measures are needed.

George Soros, Chiarman of Soros Fund Management, said, "Both continents have a problem of too much debt at the time when they have unemployment so how much to restrict and how much to stimulate is very very difficult to decide".

What everyone agreed on was that Europe, the US and Asian giants like China and India would all need to learn how to work together as global partners with mutual risks and benefits.

George Soros, Chiarman of Soros Fund Management, said, "The global system may not survive when you have different people may not survive when you have different people pulling in different direction. That is the real danger".

"So overall a sense of economic optimism here with continuing growth in Asia and a slow recovery in the west.And if even if the economic outlook for Europe was sometime bleak, the view here was always magnificent".

Information provided by cctv.com Thank you http://www.cctv.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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