YouSaid · the spoken record

Jim Rogers

lines on the record: 33
first: 2017-05-20
most recent: 2017-05-20
sittings or episodes: 1
sources: podcast

Every line below is reproduced as it was said and linked to the record it came from. Nothing here is summarised or generated. Directory · Search · Corrections

“I've mentioned some things I own a lot of US dollars. I'm short junk bonds, agriculture I've mentioned, agriculture has been a disaster for a long time. I own China, although some parts of the Chinese economy are going to collapse. They're going to be bankruptcies. And some parts of the Chinese economy are going to do fabulous. I mean, China's horribly polluted nation. Well, the government is spending unbelievable amounts of money to clean it up. So the people cleaning up China's pollution are going to do well even if Europe disappears, you know, because it's such a horrible problem. So some parts of the Chinese economy got to do well no matter what, while others go bankrupt. Russia's hated. I'm optimistic about the changes in Russia. There are places that are depressed where one can put money if you want. I own gold and silver. I'm not buying gold and silver at the moment.”
2017-05-20 · We Study Billionaires · TIP139: Jim Rogers - Macro, Gold, Junk Bonds, India, & Currencies (Stock Investing Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“You kidding? In America, we have something called the FDIC Federal Deposit Insurance Corporation. It's bankrupt. You know, it's still there, and there's not a run yet, but the FJIC, once you start having problems in the American banking system, the FDIC is bankrupt. It can't meet its obligations. It's going to happen many places. Gocha Banks are a good name to use, but there are plenty of them.”
2017-05-20 · We Study Billionaires · TIP139: Jim Rogers - Macro, Gold, Junk Bonds, India, & Currencies (Stock Investing Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“These things usually start where we're not looking. In 2007, Iceland went bankrupt. Most people say Iceland, what's Iceland? They don't even know there is an Iceland or that they had banks. But it went bankrupt. And then that snowballed and the next thing you knew, Ireland went bankrupt, and the next thing you know, Bear Stearns went bankrupt, and then Lehman, you know, that's how these things nearly always work. So right now, there's probably something running into trouble that you and I are not paying attention to and it's not registering. And it's going to snowball. Yes, those European banks are going to have problems down the road. Some are going to go bankrupt.”
2017-05-20 · We Study Billionaires · TIP139: Jim Rogers - Macro, Gold, Junk Bonds, India, & Currencies (Stock Investing Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“Course, it's correct, it's simple, as I said. It always happens the same way. You look at any kind of debt measure you want, whether it's margin debt, household debt, corporate debt. You look at it, they're all making historic highs. Everybody's convinced that they cannot lose money in bonds. I mean, these things have happened before, and it's happening again. We've always had problems every five or ten years in the world, economic problems. We're going to have them again. The next time it's going to be the worst in your lifetime. And mainly because there's such staggering debt everywhere. We had a problem in 2008 because of debt. Look out the window. The debt is much, much, much higher now. In 2017 than it was in 2008, and it's going higher every day. This is going to be a very, very big problem. UN Stigger right.”
2017-05-20 · We Study Billionaires · TIP139: Jim Rogers - Macro, Gold, Junk Bonds, India, & Currencies (Stock Investing Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“All of these things have happened many, many times in history. You and I are not the first people to see the top of a credit cycle. Go back and read, whether it's any time in history. It's always they've always said and done the same things.”
2017-05-20 · We Study Billionaires · TIP139: Jim Rogers - Macro, Gold, Junk Bonds, India, & Currencies (Stock Investing Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“I mean, you see them throughout history, all bubbles look the same, all market tops look the same, all credit tops look the same. You have to get the timing, of course. But when you see everybody buying X, you have to start saying, well, wait a minute, I've seen this before. When you see everybody saying it's different this time, well, it's never different this time, Preston. The most dangerous words in the investment world are it is different this time. It ain't ever different this time. You know, I'm not the first person to figure that out when you see on the radio or the TV or the internet that everybody's doing something, I hope, that a little bell goes off in your head and says, well, maybe I better start thinking about going the other way. The dead numbers skyrocket, the borrowing skyrocket, the Junk Bond borrowing skyrocket.”
2017-05-20 · We Study Billionaires · TIP139: Jim Rogers - Macro, Gold, Junk Bonds, India, & Currencies (Stock Investing Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“I don't have a preconceived position size. I vide as long as I think the price is right and the opportunity is right. And then when I run out of money or run out of patience and then I stop. Part of the problem, Stig, is I don't have a committee. I only invest my own money. So I don't have to explain to a committee of wise people what I'm doing or why I'm doing and defend it. So I just do it till I get tired or run out of money or whatever, and then I stop buying or until something else comes along and I start putting my money there. I mean, it's not disciplined. It's sloppy. It's hopeless. Maybe I should have a committee. But at the moment, I have enough money that I can get away with being sloppy.”
2017-05-20 · We Study Billionaires · TIP139: Jim Rogers - Macro, Gold, Junk Bonds, India, & Currencies (Stock Investing Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“I'm too lazy to change. I know it's going to fall apart someday, but in the meantime, because my market timing is so hopeless, I'm losing money just like you. But eventually the junk bond market is going to collapse. I hope I don't collapse first. That is no question. It's a very simple thing. The world does not work so that people can borrow staggering amounts of money and have very few assets, very little money-making ability, and continue to go on and on and on. No, of course it's going to fall apart. But I may fall apart first because my timing is so bad.”
2017-05-20 · We Study Billionaires · TIP139: Jim Rogers - Macro, Gold, Junk Bonds, India, & Currencies (Stock Investing Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“Preston, I told you, don't listen to me for market timing. I'm coming to you for market timing, for goodness sakes. I have learned that I see Someday, but I'm hopeless at market timing. I still have it on.”
2017-05-20 · We Study Billionaires · TIP139: Jim Rogers - Macro, Gold, Junk Bonds, India, & Currencies (Stock Investing Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“Well, the price action is because of the news nearly always, you know, when you see the news, the disaster is happening, it usually leads to price action. And Mike or Roy or whoever they were had the sense to figure out, ah, this is a buying opportunity. I love to see disaster because disaster I know usually leads to opportunity too. But I'm not a short-term trader. If I see disaster, then I start thinking, okay, now what do I do? How do I check this out? Where do I go to find the opportunities?”
2017-05-20 · We Study Billionaires · TIP139: Jim Rogers - Macro, Gold, Junk Bonds, India, & Currencies (Stock Investing Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“Well, I don't know. Whatever success I've had, Tig has been because I found things that were very cheap where there was positive change taking place and I invested usually too early. But then I held them for years. And if you get that right and if you do it every once in a while, you'll probably make a lot of money. If I have any comparative advantage, that's what it is. For some reason, I can see things changing usually too soon. But then if I get it right and make some money, I make a little bit of money when I get it right.”
2017-05-20 · We Study Billionaires · TIP139: Jim Rogers - Macro, Gold, Junk Bonds, India, & Currencies (Stock Investing Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“In the 10 years of the 70s, we earned $4,200. But Preston, so what? As I say, you might as well ask me about my first one.”
2017-05-20 · We Study Billionaires · TIP139: Jim Rogers - Macro, Gold, Junk Bonds, India, & Currencies (Stock Investing Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“Back in those days, yes, as I say, I haven't seen him in 37 years, so I have no idea what he's been doing since then. But in those days, that's what we did, yes.”
2017-05-20 · We Study Billionaires · TIP139: Jim Rogers - Macro, Gold, Junk Bonds, India, & Currencies (Stock Investing Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“You know, I left there 37 years ago. You weren't even born, so I haven't had any contact since. But I will say that both of us were dedicated and passionate and loved what we were doing. He was a great market timer.”
2017-05-20 · We Study Billionaires · TIP139: Jim Rogers - Macro, Gold, Junk Bonds, India, & Currencies (Stock Investing Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“Foreigners, et cetera, et cetera. Well, how can somebody with 12 acres compete with Australia that could have 120,000 acres or a million acres, whatever it is, cannot compete with 12 acres? But the Indian government is protecting all of those poor farmers like they protect many, many parts of the Indian economy.”
2017-05-20 · We Study Billionaires · TIP139: Jim Rogers - Macro, Gold, Junk Bonds, India, & Currencies (Stock Investing Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“Unfortunately, I don't see a lot that's for sustainable growth. In India, you look out the window, you don't see any Indian products. We all know Japanese products, Korean products, German products. I doubt if you can name more than one or two Indian brands or names of products that you buy. I look around your office, your home. You'll see products from a lot of countries. I don't think you'll see any products from India. And the reason for that is there aren't any. They haven't had great manufacturing success in a few IT countries. So I don't see it. India used to be one of the great agricultural countries of the world. It got to weather the soil, the rain, the labor and everything else. But the government in India is protected the farmers. Farmers in India cannot own more than 12 acres. That's for their own good. That's to protect them from the evil.”
2017-05-20 · We Study Billionaires · TIP139: Jim Rogers - Macro, Gold, Junk Bonds, India, & Currencies (Stock Investing Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“Not in my view, but I haven't been a very good predictor of India, but you're exactly right. But you have to remember, Stake, yes, they're one billion Indians. You and I know about IT in India, but that's such a tiny, tiny, tiny part of the Indian population. Now, the Indian government loves to tell you that things are great, but you go to China, you go to India, and you can see, even if you don't accept government numbers, which I don't anywhere, you will see that things in India are not nearly as well as they are in Korea or some other places just looking out the window. I occasionally have invested in India. I've sometimes gotten it right, usually gotten it wrong because of the timing. You know, India has a lot of debt. The Indian government doesn't like to talk about them, but the debt, the GDP ratio, is very, very high in India, and it's getting higher.”
2017-05-20 · We Study Billionaires · TIP139: Jim Rogers - Macro, Gold, Junk Bonds, India, & Currencies (Stock Investing Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“Preston right now many many pension plans are being ruined many people who saved their parents said you save your money you invest for the future and everything will be okay all of those people who did that are being ruined because they saved and now they're getting negative interest rates or zero interest rates whether it's the pension fund of Illinois or the downward for XYZ university they're all getting ruined in an attempt to save the people who did it the other way, the central banks say, oh, these people borrow too much money, they didn't save, they spend money, they didn't have, we're going to save them. But that's at the expense of the people that your parents said to save your money for the future. We're ruining the people who save for the future at the expense of the people who did it the other way.”
2017-05-20 · We Study Billionaires · TIP139: Jim Rogers - Macro, Gold, Junk Bonds, India, & Currencies (Stock Investing Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“HK will say every night don't worry, everything is okay. The emperor's still in the imperial palace. And this is not going to end badly. It is going to end badly, whether we like it or not”
2017-05-20 · We Study Billionaires · TIP139: Jim Rogers - Macro, Gold, Junk Bonds, India, & Currencies (Stock Investing Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“And it's somewhat of a closed economy and closed society. It's a little bit unique in that they can continue to trick each other for a long, long, long time. They can say everything is great. And in HK, the Japanese TV network will say everything is great. And the emperor will say everything is great. And so everybody in Japan will believe it. I don't know when this is going to happen, but Preston, I will tell you that we have had economic problems every five to ten years since the beginning of time. And we're going to have them again, no matter what the press tells you. And when they happen again, it's going to be worse next time because of some of the things we've said, not just in Japan, but worldwide. Japanese will print. He said we will print unlimited amounts of money, and he's got an unlimited printing press.”
2017-05-20 · We Study Billionaires · TIP139: Jim Rogers - Macro, Gold, Junk Bonds, India, & Currencies (Stock Investing Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“The first thing they think of as US dollar for historic reasons, and second of all, then they look out to when didn't they say, well, I don't want to buy euros, I don't want to buy yen, et cetera, so that US dollars are placed that people put money. What's going to happen is the dollar is going to get overpriced. It might even turn into a bubble as the turmoil gets worse and worse. At that point, I hope I'm smart enough to sell my US dollars and buy something else.”
2017-05-20 · We Study Billionaires · TIP139: Jim Rogers - Macro, Gold, Junk Bonds, India, & Currencies (Stock Investing Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“I own a whole lot of U.S. dollars. I hope I get this one right too. But the reason the US dollar is so strong, the reason I own it anyway, is because you said part of it. The others are so bad. They're so hopeless. I mean, the Japanese central bank, the guy said, the head of the central bank said, we will print unlimited. That's what he said. Unlimited amounts of money if we have to.”
2017-05-20 · We Study Billionaires · TIP139: Jim Rogers - Macro, Gold, Junk Bonds, India, & Currencies (Stock Investing Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“First of all, in the historical context, we haven't had central banks for most of history. But at the present time, yes, a lot of what's happening in the world is because of central banks. You know, in America, we've had three central banks. The first two disappear. In my view, this one's going to disappear too, because they're making so many hopeless mistakes. But yes, central banks are a powerful, powerful influence in the world right now. They have enormous amount of money and therefore power. And a lot of what's happening in the world, for better or for worse, is because of central banks, especially the American central bank, the Federal Reserve. They have more influence and more money than everybody else.”
2017-05-20 · We Study Billionaires · TIP139: Jim Rogers - Macro, Gold, Junk Bonds, India, & Currencies (Stock Investing Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“Puts out something like 10 times as many engineers every year as America does now. That's going to have an effect someday. Maybe not this afternoon. Maybe not this weekend, but it's going to have an effect someday. And so the world is changing once again. In 1807, the smart people moved to London. In 1907, the smart people moved to New York. Well, in my view, the 21st century is the century of Asia. You can ask me in 75 years, I will know.”
2017-05-20 · We Study Billionaires · TIP139: Jim Rogers - Macro, Gold, Junk Bonds, India, & Currencies (Stock Investing Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“Ray is a lot smarter than I am. You know, a lot of people a lot smarter than I am, but I do perceive that the world is changing now. The world has always been changing no matter what you think is true today in 2017 is not going to be true 15 years from now. What all of us think right now, you pick any year in history and you look 15 years later and everything that people thought in 1900 or 1920 or 19 pick the year 15 years later the world was completely different and everything had changed. So yes, that is happening, but in an even bigger picture than 15 years ago, I mean, look, whether we like it or not, I don't particularly like it, but Asia is rising. Asia is where the money is, Asia's where the energy is, Asia is where the ambition and drive is, and the brains.”
2017-05-20 · We Study Billionaires · TIP139: Jim Rogers - Macro, Gold, Junk Bonds, India, & Currencies (Stock Investing Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“You've hit on it again. I mean, that's the important part. I have learned about me, because I've been investing a long time, that I'm usually too early, that I see something happen, and I assume everybody sees what I see. I now know they don't. I now know I see it much too early. So I've learned to wait a year or two. But the change, the catalyst, as you call it, could be anything. But again, I want to emphasize. Even when you see the catalyst, it doesn't do any good unless everybody else sees the catalyst too. And unless the effects come through pretty quickly. And in life and in the world, it usually takes a while for the catalyst to work its way through.”
2017-05-20 · We Study Billionaires · TIP139: Jim Rogers - Macro, Gold, Junk Bonds, India, & Currencies (Stock Investing Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“You look out the window, you look at the market, you read the newspapers, you watch the investors podcast, whatever, wherever you see that people are down on something, and it's depressed and there may be an investment opportunity there. Agriculture in America is pretty depressed right now, as you probably know. It may be an area where there's an investment opportunity. Just because something's depressed, Preston doesn't mean you should be investing there because it could stay depressed for a long, long, long time. You have to find a change that's taking place as well. Something can be depressed for 15 or 20 years. You have to find the change, and change doesn't happen every day. But if you can find something cheap and if you can find a positive change, maybe you should do more homework and find an investment.”
2017-05-20 · We Study Billionaires · TIP139: Jim Rogers - Macro, Gold, Junk Bonds, India, & Currencies (Stock Investing Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“I have learned in life that the more people ridicule you and the more people question you and laugh at you You probably own to a good thing no matter what it is. Are times in life that if you are observer, You find change to me the most important thing is to find something that's If it's ridiculed and ignored, it's probably very, very cheap, such as the Danish corona was, and nobody even knew what it was back in those days. Probably going to make a good investment if you find change.”
2017-05-20 · We Study Billionaires · TIP139: Jim Rogers - Macro, Gold, Junk Bonds, India, & Currencies (Stock Investing Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“I'm not a good market timer. I'm the world's worst market timer. I'm the world's worst short term trader. So, yes. Why I'm asking you to call me when it's at the bottom. President, if you had told me that in 2014, then you had done it. Would have lost everything Call would have expired by now, and we'd be sitting here talking about, oh gosh, let's talk about baseball or something. You would have lost your whole investment. You didn't tell me that in 2014, or I might have followed up on it.”
2017-05-20 · We Study Billionaires · TIP139: Jim Rogers - Macro, Gold, Junk Bonds, India, & Currencies (Stock Investing Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“If you got the timing right, please call me too and tell me it's time two and a half year call would be fantastic if you get it at the bottom. There's no question about that. You got enormous leverage with calls and stocks. Stocks usually go up more than the item itself. Can also do it with futures because the futures on gold and silver. You can also get enormous leverage. If you get it right, you get the timing right and the product right, then you get enormous leverage. And that's what you're looking for. So futures or calls at the right time. The right item Make you a staggering amount of money. Now, once you do it, you please call me I need to know when the bottom is too.”
2017-05-20 · We Study Billionaires · TIP139: Jim Rogers - Macro, Gold, Junk Bonds, India, & Currencies (Stock Investing Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“Preston is qualitative, quantitative. It's everything. I mean, I wish it was so simple. I wish you could just look up to turn to page 37. Ah, there's the answer. There is no simple answer in the investment world. It's a combination of everything. And that's the case with gold and everything else. Gold has been around for thousands of years. Gold has had many periods when it's been in the bull market. Many peers when it's a bear market. Gold is just another investment. I know that many people think it is a currency. It is a blah, blah. It's a this. It's a that. Is just another investment like everything else, just another commodity like everything else. Go back in history and you will see the gold is just another investment like everything else. Whether we like it or not.”
2017-05-20 · We Study Billionaires · TIP139: Jim Rogers - Macro, Gold, Junk Bonds, India, & Currencies (Stock Investing Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“When they say I never want to invest in gold again as long as I live, that's when I want to invest in gold. That's true of many things. You know, when everybody gives up and throws it out the window, that's usually a good time to buy anything, including gold. And so far, There are too many people who love gold.”
2017-05-20 · We Study Billionaires · TIP139: Jim Rogers - Macro, Gold, Junk Bonds, India, & Currencies (Stock Investing Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“I don't know, gold claps to 950 US dollars an ounce. I would probably brush in and buy a lot of gold. Price, I guess, is the main determinant or time if this were 2019. I might rush in and buy some gold. Gold hasn't had enough of a correction yet for me, and there's still too many bugs. I'm too many bulls. Everybody, millions of gold bugs out there. When they give up, I hope I'm smart enough to buy gold.”
2017-05-20 · We Study Billionaires · TIP139: Jim Rogers - Macro, Gold, Junk Bonds, India, & Currencies (Stock Investing Podcast) · IDENTIFIED FROM THE TRANSCRIPT