“You want to buy a lake house, buy it in Iowa or Oklahoma. Don’t buy it in Massachusetts. You know, the stockbrokers are going to be broke. Buy where the people are going be rich. Open yourself a chain of restaurants in the agriculture area or department stores or hotels. Anything that you want to do in an area where people are making lots of money, you’ll make a lot of money, too… just because they’re rich.”
Jim Rogers first made a name for himself at The Quantum Fund. He and partner George Soros founded the first true global investment fund in 1970. Over the next decade, Quantum gained 4,200 percent, while the Standard & Poor’s 500 Index climbed by approximately 50 percent.
Since then, Rogers “retired” and traveled the world (multiple times). In the process, he’s written several bestsellers, including Investment Biker and Bull in China.
…”China is the only country in the world that’s had recurring periods of greatness. Great Britain was great once. Egypt was great once. Rome was great once. I presume somebody’s gonna be the most important country in the twenty-first century. I don’t see anybody on the horizon except China.”
I was speaking at a conference not long ago and the moderator asked a group of 300 or 400 international fund managers, “How many of you ever owned gold?”
Seventy-six percent of them had never owned gold. And if you’d asked how many owned soy beans, God knows it would have been zero percent.
So when you say everybody’s bullish, who are these people? Where are they? Maybe they’re bullish, but there are very, very, very few people who have invested in a manner that reflects their bullishness. The last time I was in the United States, I saw shops everywhere saying, “We Buy Gold.” The public’s dumping their gold into these shops. Eventually, those shops are going to have signs outside saying, “We Sell Gold,” and people will be lined up to buy gold. But those days are far from here yet.
Interested yet? Read the whole interview here: