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I am more concerned about the return OF my money than the return ON my money. --Mark Twain
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'The US dollar is in trouble'
SMART TALK: Jim Rogers
Jitendra Kumar Gupta / Mumbai September 15, 2008, 0:04 IST
Legendary investor Jim Rogers is probably the last word when it comes to investments in commodities. Along with George Soros, he co-founded the Quantum Fund in 1970. The fund went on to deliver absolute returns of 4,200 per cent in the decade that followed, while the S&P 500 delivered only 50 per cent during that period.
Rogers correctly predicted China's resurgence as an economic superpower way back in the 80’s and that crude oil will touch the $100 mark. His last two books, ‘A Bull in China: Investing Profitably in the World's Greatest Market’ and ‘Hot Commodities: How Anyone Can Invest Profitably in the World's Best Market’ have been well received.
Rogers was in Mumbai on the occasion of the launch of the Birla Sun Life Commodity Equities Fund. At the conference and in an interview with Jitendra Kumar Gupta, he shared his outlook on commodities and the world economy. Excerpts:
How can one identify the start of an upward or downward cycle in any commodity?
In the late nineties, when I came with the conclusion that the commodity bear market is ending, I could see that no body has build offshore drilling rigs and tugs since 1981, with drilling declining for 15-20 years. I could also see that the inventories of food, which were very high in the mid-eighties, had gone down to nothing.
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Just heard the Fed is going lower rates by 50 points!!!
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