Jim Rogers

James Beeland Rogers Jr. (born October 19, 1942) is an American investor and financial commentator based in Singapore. Rogers is the Chairman of Beeland Interests, Inc. He was the co-founder of the Quantum Fund and Soros Fund Management. He was also the creator of the Rogers International Commodities Index (RICI).

For other people named Jim Rogers, see Jim Rogers (disambiguation).

Jim Rogers
American investor Jim Rogers in Madrid (Spain) during an interview.
Born
James Beeland Rogers Jr.

(1942-10-19) October 19, 1942
Baltimore, Maryland, U.S.[1]
CitizenshipAmerican
Alma materBalliol College, Oxford (B.A.)
Yale University (B.A.)
OccupationChairman of Beeland Interests
Co-founder of the Quantum Fund and Soros Fund Management
Spouse(s)Lois Biener (m. 1966–69)
Jennifer Skolnik (m. 1974–77)
Paige Parker (m. 2000)
Children2
Websitewww.jimrogers.com

Rogers does not consider himself a member of any school of economic thought, but has acknowledged that his views best fit the label of the Austrian School of economics.[2][3]

Early life

Rogers was born in Baltimore, Maryland and raised in Demopolis, Alabama.[1]

Education

In 1964, Rogers graduated with a bachelor's degree cum Laude in History from Yale University.[4] He got his first job on Wall Street, at Dominick & Dominick.[5]

In 1966, Rogers then acquired a second BA degree in Philosophy, Politics and Economics from the University of Oxford, as a member of Balliol College.[6]

In April 2019, he received the honorary Ph.D. from the Pusan National University with a recognition of his books in which his positive messages on Korean unification and the bright future are presented.[7]

Business career

In 1964, Rogers joined Dominick & Dominick LLC on Wall Street, where he first learned about stocks and bonds. From 1966 to 1968, Rogers served as a draftee in the US Army for military service during the Vietnam War.[8]

In 1970, Rogers joined investment bank Arnhold and S. Bleichroder, where he worked with George Soros.[9]

In 1973, Soros and Rogers both left and founded the Quantum Fund. From 1973 to 1980, the portfolio gained 4200% while the S&P advanced about 47%.[10] The Quantum Fund was one of the first truly global funds. In 1980, Rogers decided to "retire", and spent some of his time traveling on a motorcycle around the world. Since then, he has been a guest professor of finance at the Columbia Business School.[11]

In 1985, he explained that the Vienna Exchange has a high potential resulting in a bull market.

In 1989 and 1990, Rogers was the moderator of WCBS' The Dreyfus Roundtable and FNN's The Profit Motive with Jim Rogers. From 1990 to 1992, he traveled through China again, as well as around the world, on motorcycle, over 100,000 miles (160,000 km) across six continents, which was picked up in the Guinness Book of World Records. He tells of his adventures and worldwide investments in Investment Biker, a bestselling book.

In 1998, Rogers founded the Rogers International Commodity Index. In 2007, the index and its three sub-indices were linked to exchange-traded notes under the banner ELEMENTS. The notes track the total return of the indices as an accessible way to invest in the index. Rogers is an outspoken advocate of agriculture investments.

Between January 1, 1999, and January 5, 2002, Rogers did another Guinness World Record journey through 116 countries, covering 245,000 kilometers with his wife, Paige Parker, in a custom-made Mercedes. The trip began in Iceland, which was about to celebrate the 1000th anniversary of Leif Eriksson's first trip to America. On January 5, 2002, they were back in New York City and their home on Riverside Drive. He wrote Adventure Capitalist following this around-the-world adventure. It is currently one of his bestselling books.

2002 to present

On his return in 2002, Rogers became a regular guest on Fox News' Cavuto on Business and other financial TV shows.[12] In 2005, Rogers wrote Hot Commodities: How Anyone Can Invest Profitably in the World's Best Market, in which Rogers quotes a Financial Analysts Journal academic paper co-authored by Yale School of Management professor, Geert Rouwenhorst, entitled Facts and Fantasies about Commodity Futures.

In December 2007, Rogers sold his mansion in New York City for about 16 million USD and moved to Singapore. Rogers claimed that he moved because now is a ground-breaking time for investment potential in Asian markets. Rogers's daughters speak fluent Mandarin to prepare them for the future. He is quoted as saying: "If you were smart in 1807 you moved to London, if you were smart in 1907 you moved to New York City, and if you are smart in 2007 you move to Asia."[13]

In a CNBC interview with Maria Bartiromo broadcast on May 5, 2008, Rogers said that people in China are extremely motivated and driven, and he wants to be in that type of environment, so his daughters are motivated and driven. He also stated that this is how America and Europe used to be. He chose not to move to Chinese cities like Hong Kong or Shanghai due to the high levels of pollution causing potential health problems for his family; hence, he chose Singapore. However, he remains skeptical of India's future, stating in 2001 that "India as we know it will not survive another 30 or 40 years".[14]

In 2008 Rogers endorsed Ron Paul, a Republican congressman, for President of the United States.[15]

Personal life

Rogers has been married three times. In 1966, he married his first wife, Lois Biener; they divorced in 1969. In 1974, he married Jennifer Skolnik; they divorced in 1977.[16] He married Paige Parker in 2000;[17] they have two daughters.[17]

In September 2012 Rogers was appointed by VTB Capital as an advisor to the agricultural division of its global private equity unit. Rogers noted: "Russia and the CIS region have all the ingredients needed to become the world's agriculture powerhouse. It seems that everything may now be coming together under VTB Capital to make this happen, so I am keen to participate, if the fund gets off the ground."[18]

In February 2013 Rogers joined the Board of Advisors of the Coalition to Reduce Spending.[19] In September 2015, he left the Indian market saying "one can't just invest on hope".[20]

Financial advice

In 2002, Rogers said that Fed chairman Alan Greenspan's "reaction to the stock-market bubble has caused two more bubbles to grow: a real-estate bubble and a consumer-debt bubble."[21] In 2006, Rogers said he was shorting US financials, home builders and Fannie Mae.[22][23]

On November 4, 2010, speaking at Balliol College, Oxford, Rogers urged students to scrap career plans for Wall Street or the City, London's financial district, and to study agriculture and mining instead. "The power is shifting again from the financial centers to the producers of real goods. The place to be is in commodities, raw materials, natural resources."[24]

In May 2012 he remarked during an interview with Forbes magazine that "there's going to be a huge shift in American society, American culture, in the places where one is going to get rich. The stock brokers are going to be driving taxis. The smart ones will learn to drive tractors so they can work for the smart farmers. The farmers are going to be driving Lamborghinis. I'm telling you. You should start Forbes Farming."[25] Rogers has been periodically bearish on the US stock market since the 1980s, notably 1987, 1998, 1999 & 2008. In February 2018, he reportedly predicted that the next bear market would be "the worst in our lifetime."[26]

Bibliography
  • 1994: Investment Biker: Around the World with Jim Rogers. – ISBN 1-55850-529-6
  • 2003: Adventure Capitalist: The Ultimate Road Trip. – ISBN 0-375-50912-7
  • 2004: Hot Commodities: How Anyone Can Invest Profitably in the World's Best Market. – ISBN 1-4000-6337-X
  • 2007: A Bull in China: Investing Profitably in the World's Greatest Market. – ISBN 1-4000-6616-6
  • 2009: A Gift to My Children: A Father's Lessons For Life And Investing. – ISBN 1-4000-6754-5
  • 2013: Street Smarts: Adventures on the Road and in the Markets – ISBN 0-307-98607-1
  • 2019: Number One Bestsellers in Japan: The Future of Japan
  • 2019: Number One Bestsellers in Japan: A Warning to Japan

Further reading

References
  1. Vetter, Jason (January 18, 1998). – "Adventurer from Marengo Wanders into the Big Money: Jim Rogers started out selling peanuts at Little League games, then made a bonanza on Wall Street". – Mobile Register.
  2. Drobny, Steven (2006). "11: The Pioneer". Inside the House of Money: Top Hedge Fund Traders on Profiting in the Global Markets. Hoboken, New Jersey: John Wiley & Sons, Inc. p. 230. ISBN 978-0-471-79447-9.
  3. "Jim Rogers: Schlarbaum Prize 2010". February 10, 2010. Archived from the original on May 13, 2012. Retrieved June 23, 2011.
  4. "Jim Rogers: My First Million". Financial Times. November 20, 2009.
  5. James Williams (April 1, 2016). "Jim Rogers: 'I am the world's worst short-term trader'". Financial Times.
  6. Kopala, Margret; Budden, John (2015). The Dog Bone Portfolio. BPS Books. ISBN 9781772360165.
  7. "Top global investor predicts land of investment opportunities in unified Korea". english.hani.co.kr. Retrieved April 26, 2019.
  8. "Career Profile: Jim Rogers". EX Mag. Expat Living. Archived from the original on July 23, 2015. Retrieved June 15, 2015.
  9. White, Gregory. "Jim Rogers: "All Of You Who Have MBAs Have Made Mistakes" And You Should Be Farmers Instead". Business Insider. Business Insider Inc. Retrieved June 15, 2015.
  10. "James Rogers". streetstories.com. Archived from the original on May 25, 2012. Retrieved July 26, 2007.
  11. "Jim Rogers: My First Million". The Financial Times. November 20, 2009. Retrieved June 11, 2017.
  12. Benjamin Scent, "Six more hard years tipped for subprime fallout" Archived July 18, 2008, at the Wayback Machine, The Standard, November 19, 2007.
  13. https://www.nationalreview.com/magazine/2010/03/08/jim-shrugged/
  14. "India" Archived April 18, 2009, at the Wayback Machine. – JimRogers.com; accessed June 11, 2017.
  15. Video on YouTube
  16. "Why Jim Rogers Says His Timing Is Terrible" CNBC. Alex Frew McMillan. May 22, 2011
  17. Meet The Legendary Investor Jim Rogers and His Family Archived March 5, 2016, at the Wayback Machine Family & Life Magazine. Farhan Shah. October 2013
  18. Holmes, Sam (September 19, 2012). "Jim Rogers Joins Russia's VTB Capital As Agricultural Advisor". The Wall Street Journal.
  19. "Board of Advisors". Coalition to Reduce Spending. Retrieved February 19, 2013.
  20. Philip, Joji Thomas (September 2, 2015). "Jim Rogers exits India, says one can't invest just on hope". Live Mint. Retrieved January 29, 2019.
  21. "For Whom the Closing Bell Tolls". Jim Rogers. Archived from the original on September 20, 2011. Retrieved June 11, 2017.
  22. "Freddie, Fannie Shares Will Continue to Slide, Jim Rogers Says". Bloomberg. November 20, 2007.
  23. "Investment guru Rogers shorts U.S. builders". Reuters. April 11, 2007.
  24. "Bernanke ‘Doesn't Understand’ Economics, Rogers Says", Bloomberg News, November 5, 2010.
  25. Barth, Chris. "Jim Rogers: 'Be Very Worried' And Buy Agriculture". forbes.com. Retrieved October 22, 2012.
  26. Kim, Heejin (February 8, 2018). "Jim Rogers Says Next Bear Market Will Be Worst in His Life". Bloomberg L. P. Retrieved February 18, 2018.
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