It costs money to close a mine[gold], it costs money to re-open a mine
so people are reluctant to close mines. So you can see any commodity
staying below the cost of production for a while, especially if it’s
something like a mine which is expensive to close and expensive to open.
Some people are not going to be able to open mines because of what’s
happened. But then you’re going to eventually have people close mines,
and eventually, like I said it’s going to work its way out in 2014,
2015, gold will make a nice bottom and off we’ll go again with the
assumption of a bull market.
Jim Rogers is a bestselling author, financial commentator and successful international investor. Rogers was a co-founder of the Quantum Fund (considered to be the first truly international fund of its kind) and is the creator of the Rogers International Commodities Index (RICI).
Wednesday, July 31, 2013
Most Bull Markets have lasted for a couple of decades
Most bull markets have lasted for a couple of decades, or nearly a
couple of decades. And in my view supply is not there yet. By the way if
economies slow down, it would affect demand for all commodities but
then Mr. Bernanke and his friends are going to print a lot more money.
It’s the wrong thing to do but unfortunately that’s all they know to do,
and they’ll do more.
Jim Rogers is a bestselling author, financial commentator and successful international investor. Rogers was a co-founder of the Quantum Fund (considered to be the first truly international fund of its kind) and is the creator of the Rogers International Commodities Index (RICI).
Jim Rogers is a bestselling author, financial commentator and successful international investor. Rogers was a co-founder of the Quantum Fund (considered to be the first truly international fund of its kind) and is the creator of the Rogers International Commodities Index (RICI).
Most Commodities don’t have massive new supply yet
In 1987 stocks around the globe fell 40% and many people said the bull
market was over. Then in 1989, 1990, 1994, 1997, 1998 there were many
times when stocks collapsed and everybody was convinced the bull market
was over. The bull market wasn’t over. It eventually ended in a bubble.
In my view that’s happening with commodities. I don’t see major sources of new supply coming in on stream. Most commodities don’t have massive new supply yet. For instance, agriculture has produced record levels for the past few years and yet inventories are the lowest in 40 years because consumption keeps going higher and higher, faster than production does.
We have serious fundamental problems developing in agriculture. I don’t see enough new supply to cause the bull market to end other than a temporary consolidation, especially since so many people are convinced and quick to rush out and write that the bull market is over. But we’ll see.
Jim Rogers is a bestselling author, financial commentator and successful international investor. Rogers was a co-founder of the Quantum Fund (considered to be the first truly international fund of its kind) and is the creator of the Rogers International Commodities Index (RICI).
In my view that’s happening with commodities. I don’t see major sources of new supply coming in on stream. Most commodities don’t have massive new supply yet. For instance, agriculture has produced record levels for the past few years and yet inventories are the lowest in 40 years because consumption keeps going higher and higher, faster than production does.
We have serious fundamental problems developing in agriculture. I don’t see enough new supply to cause the bull market to end other than a temporary consolidation, especially since so many people are convinced and quick to rush out and write that the bull market is over. But we’ll see.
Jim Rogers is a bestselling author, financial commentator and successful international investor. Rogers was a co-founder of the Quantum Fund (considered to be the first truly international fund of its kind) and is the creator of the Rogers International Commodities Index (RICI).
Getting Rich At A Young Age
"Well, I was already pretty focused, I knew I wanted to buy my freedom at a young age because i grew up without much money and I did not like it. So, I wanted to buy my freedom, so I spent most of my time doing what I loved, which was the stock market, the investments markets, I should say. And when you do what you love and spend a lot of time and energy at it, sometimes you are successful." - in a recent interview, when asked about getting rich at a young age
Jim Rogers is a bestselling author, financial commentator and successful international investor. Rogers was a co-founder of the Quantum Fund (considered to be the first truly international fund of its kind) and is the creator of the Rogers International Commodities Index (RICI).
It Is Good To Go Broke At Least Once
"It is good to lose money, to go broke at least once, and preferably twice. But if you are going to do it, do it early in your career. Do it early and it is not the end of the world. . . it teaches you how much you do not know." - in Street Smarts
Jim Rogers is a bestselling author, financial commentator and successful international investor. Rogers was a co-founder of the Quantum Fund (considered to be the first truly international fund of its kind) and is the creator of the Rogers International Commodities Index (RICI).
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