Jim Rogers graduated from Yale University and has a degree in philosophy, politics and economics from Oxford University. Jimmy Rogers became a Wall street legend when he and George Soros founded the Quantum Fund.After his career as a hedge fund manager and investor,Jim Rogers now periodically teaches finance at Columbia University, and appears regularly on the CNBC Cable Network.
Tuesday, December 13, 2011
I buy Commodities when their price collapses
Jim Rogers: That’s some of it. The grace margin climbed just a few times for several metals that you know. That’s certainly part of it. But there are many reasons.
Silver and gold - you know, gold has gone up ten years in a row. That’s extremely unusual in any financial asset. Silver skyrocketed here in the last several months. So yeah, it’s a combination of things - financial panic, market re-quals, etcetera. But I don’t see this as any problem.
It’s good for markets. Back in the 1970s gold went up 600% and then gold went down 50%, scared everybody’s socks off. A lot of people gave up on gold. And then as soon as they gave up and sold, gold turned around and went up 850%. That’s not a typo - 850%.
So this is nothing unusual. Oil has gone down almost 50% three times since the bull market started in 1999. I don’t pay too much attention to these things. I try to be smart enough to buy when it collapses some. - in Goldseek Radio