NANCY: So are we having a rally in gold right now? A mini rally?
JIM ROGERS: Yes and no; it depends on which day you’re talking
about. I own gold and I’ve owned gold for many, many decades. The
situation with gold, gold went up 12 years in a row and Nancy, I know of
no asset in history that’s gone up 12 years without a down year, so
the anomaly has been how strong gold was, so gold is now correcting.
In my view, the correction will be an anomaly too, because of the
previous 12 years, so I would suspect you’ll gold have correcting for a
year…two…three , I don’t know how long, and how low it will go, but
it’s not going to be normal. There’s still too many people who
believe and not enough people who’ve given up on gold yet. So I own
gold. I haven’t sold any gold. Every once in awhile when it’s down, I
buy more. But the bottom, I don’t think is in. The final bottom is
not in yet.
Jim Rogers is the best-selling author of several books, including
Investment Biker: On the Road with Jim Rogers, Adventure Capitalist: The
Ultimate Road Trip, Hot Commodities: How Anyone Can Invest Profitably
in the World’s Best Market, and his latest, A Bull in China: Investing
Profitably in the World’s Greatest Market. He is an investor who has
been chronicled in Jon Train’s Money Masters of Our Time, Jack
Schwager’s Market Wizards, and other books. After apprenticing with
Arnhold and S. Bleichroeder in the early 1970s, Mr. Rogers co-founded
the Quantum Fund, a global-investment partnership. During the next ten
years, the portfolio gained more than 4,000%, while the S&P rose
less than 50%. He retired at 37 and has since then continued to manage
his own portfolio, served as professor of finance at the Columbia
University Graduate School of Business, and appeared as a regular
commentator and columnist in various media. Mr. Rogers has been
frequently featured in Time, the Washington Post,...
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%.