Word: jims
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...Jim Rogers' daughters may not have been born with silver spoons in their mouths, but they've got them now. Not silver spoons, exactly, but silver bullion. "My little girls don't own stocks - they own commodities," he says, "and that's why they'll be able to take care of me in retirement." Rogers, a former hedge-fund manager, author and B-school professor and now bicontinental showman (he lives in Singapore and New York), was slamming stocks and praising precious metals in front of an eager audience of investors who had packed a basement auditorium in midtown Manhattan...
...Maybe it's the bow tie, his Alabama drawl or his professorial demeanor, but when Jim Rogers speaks, even those who disagree quietly rethink their positions. People who challenge him are playfully mocked. Responding to one young business type in the crowd who questioned his thesis, Rogers advised him to "head down to Texas A&M and offer to trade in your M.B.A. for one of their agricultural degrees." Become a farmer, he advised the guy: "You'll make out better than you will with your M.B.A." The man tried to respond but was drowned out by laughter...
...government bonds? Don't tell Jim. "How could anybody in their right mind lend money to the U.S. government at 4% for 30 years?" He draws out the enunciation of "30 years" as if he can't even believe he's saying it, can't believe that anyone could be that stupid. (See the top 10 financial-crisis buzzwords...
...Silver. Hmmm. Hardly has that thought sunk in before I'm back to watching Jim prance across the stage, dipping into geopolitics - "whenever in history an established power is being surpassed by a rising power, they clash," he said, referring to a potential U.S.-China faceoff - and giving the audience a peek at what may be his only anxiety, water. Or rather, China's inadequate supply of it. "If they run out of water, all bets are off - it's the one thing you can't do without," he says. Boy, this guy is smart...
Overall Rating: SO GOOD. We love Jim. Enough said...