Jim Rogers: Lessons From a Legend

Recently by Jim Rogers: Dow 1 Million? Sure, Why Not?

Last night I took a trip down to Miami to visit with Jim Rogers at a book signing for his most recent book entitled A Gift to My Children: A Father’s Lessons for Life and Investing. After speaking briefly about his 3-year tour around the globe, he spoke a little about the aforementioned book and took questions from the audience. These are the general themes I took away, in no particular order:

Jim said numerous times he is a terrible market timer, he went as far to say he’s not the worst in the room but the worst in the world … very humble.

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While Jim’s primary residence is in Singapore, he also has a dwelling here in Florida. What I found interesting is that he rents and does not own his home here in Florida. The fact that he sold a lavish residence in New York before the real estate crash and rents here in Florida may mean that his timing is better in real estate.

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Though he waited later than most, he stated that one of his proudest accomplishments was having children. For one of the most successful investors in our time, that speaks volumes about the father he most likely is. Not only did he move his family to Singapore but his two daughters will be fluent in Mandarin and Spanish.

He did not go into specifics about his bank accounts, but his two daughters have Swiss bank accounts, not accounts denominated in US dollars. What does that say about his feeling on the US dollar?

He has no short exposure in US Treasuries. Currently he thinks the multi-decade-long bull market in this complex is over and he believed he would be taking a hefty short position at some time in the future.

One of the questions from the audience pertained to getting an MBA. Jim’s response in so many words was that it would be a complete waste of money and time. He suggested traveling around the world would be a more valuable experience. He went as far to say that sitting in a hot tub in Boston one could learn more than going to some of the prestigious universities there.

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