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, May 7, 2013

Jim Rogers: Austria has some very beautiful Gold Coins



Menon: What sort of gold coins do you buy?
 
Jim Rogers: US, Chinese, Canadian, Australian, Austrian. Austria has some very beautiful ones. British sovereigns. Those are the ones that I think of....And I have bought a few North Korean gold coins. - in morningstar


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%.

Jim Rogers: Gold Price could go as low as $960



Menon: What sort of price would tempt you in?

Jim Rogers: I have no idea! At $1,300 I would probably buy some. $1,200 I would buy some more. $1,100 I would buy even more. $1,000, if I’m still solvent, I would buy even more .
You know 50% retracement would be around $960. 50% retracements are very common in markets. I am not suggesting it is going to get there but those sorts of numbers are common. - in morningstar


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%.

Gold : I am waiting for what I hope will be a better bottom, if it comes



Menon: Would you say that the recent price is or isn’t a buying opportunity for investors?

Jim Rogers: For nimble people it probably is. You have enormous negativity and enormous collapse. So usually if you buy at the time of collapse you make money if you are a good trader. I am not a good trader.
I am waiting for what I hope will be a better bottom, if it comes. We may have had the bottom. I did not buy, am not buying, but certainly that kind of collapse nearly always in history--no matter what the asset is--you should buy that kind of collapse. I did not.
 - in morningstar


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%.

Jim Rogers: There is No Gold Manipulation , I’ve been hearing that argument for about 30 years

Menon: Some people have argued that it was manipulation that caused the fall in gold. What is your view on this?
Jim Rogers: I’ve been hearing that argument for gold and silver for about 30 years. Even if someone can manipulate a market for a day or two they can’t manipulate it for a month or two or three. So I don’t put much stock in that. - in morningstar



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%.

Gold : I hope this is the proper Correction

Jim Rogers : Gold had gone up 12 years in a row, without a down year, which is extremely unusual in any asset. Equally important, gold has only had one 30% correction in 12 years. Again, that is extremely unusual. Most things correct 30-40% every year or two. So the action in gold has been very unique and gold needed a correction. The main thing that caused it as far as I am concerned was that the market was ready. It needed it and it is good for gold to have a proper correction. Whenever there is a correction people always find reasons. Cyprus was going to sell its gold, which means other European countries might have to. There were various and sundry things that came up. At the time bitcoin was collapsing. A lot of people that own bitcoin own gold. The main reason is that gold needed a correction. It had had only one proper correction in 12 years. So it finally came. I hope this is the proper correction. - in morningstar

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%.

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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