Which hero can describe in detail jim rogers's life, investment philosophy and style from university to leaving Quantum Fund?

Jim rogers is an internationally renowned investor and professor of finance. He has legendary investment experience. From the shocking quantum fund founded by him and financial tycoon Soros to the bullish Rogers International Commodity Index (RICI), from two global investments to being listed in famous yearbooks such as Jon Train's Money Master of Our Time and Jack Yeshaayahu Schwager's Market Wizards, the world is amazed.

* 1942 jim rogers was born in Alabama, USA.

* 1964 graduated from Yale university.

* 1964 ext 1966, studying at Oxford University.

* 1970 co-founded quantum fund with Soros, and achieved remarkable results.

* 1980 After leaving Quantum Fund, he gave a lecture at Columbia University Business School.

* 1989- 1990 completed his first trip around the world and was included in the Guinness Book of World Records.

The Rogers International Commodity Index (RICI) was founded at 1998. By the end of 2003, the cumulative increase was 1 19.73%, which exceeded the major indexes in the same period.

* 1999 In the second round-the-world trip, investing in Shanghai B shares also achieved great success, and the times called it Indiana Jones in the financial sector.

* Time Magazine, Washington post, The New York Times, Barron, Forbes, Fortune, The Wall Street Journal and Financial Times.

Legendary investor jim rogers

Jim rogers's trip to China caused quite a stir. This legendary investment master, once called by Buffett as "unparalleled in grasping the general trend", is not only his investment history, but also those exciting trips around the world.

Travel around the world to pave the way for investment

He traveled around the world twice. The first time was 1990. He rode a motorcycle and went to more than 50 countries. It took him nearly two years. The second time was 1999, driving a Mercedes-Benz station wagon for three years, passing through 1 16 countries, starting from Iceland, passing through Europe, Japan, China, Russia, Africa, Antarctica, Australia, South America and then returning to the United States, breaking the Guinness World Record. "My wife and I traveled around the world with two results. One is the official publication of Venture Capitalist, and the other is the birth of my first daughter. She is only 1 1 month now, and I feel very happy. "

Adventure Capitalist is Rogers' travel notes. Wherever he goes with the eyes of investors, he sees investment opportunities. Usually he thinks that after entering a country, as long as you exchange the currency of this country, there is no problem in using the currency of this country. In the process of driving, as long as the road traffic conditions in this country are good, then this country can invest.

"Money is really important. Many countries implement foreign exchange control, so we have a headache about money, and sometimes we have to smuggle cash out of desperation and exchange it on the black market. These countries are obviously not suitable for investment. " Rogers told with emotion what happened to him and his wife in a certain country-when he was withdrawing money from the local ATM, he was about to get his credit card back, but the money was "eaten" by the ATM. Nowhere to get revenge, Rogers finally found the local mafia and took out the money he had eaten at the ATM.

In Botswana, Africa, he was surprised to find that the city is full of luxury cars, the local currency is freely convertible, the country has three years of foreign exchange reserves, the government budget and foreign trade have surpluses, while the stock market has only seven employees and seven stocks, and the stock price is very low and cash dividends are paid. Rogers immediately bought all the stocks and entrusted the broker to buy every stock listed in the future. Therefore, Botswana was rated as the fastest growing country in 10 years by Business Weekly in 2002.

These stories make Rogers very excited: "Wherever we go, we try to eat and live with local people and experience their lives with their lifestyles, from which we can learn a lot, including finding many investment opportunities." In this way, the romantic dream of traveling around the world is seamlessly connected with the financial investment inspection. As he himself said, "making money and combining ideals are the most wonderful things."

Investment philosophy: down-to-earth

"The most successful investment in my life is my 1 1 month daughter. I have had many successful and failed investment experiences, but I have learned far less from success than from failure. " When the reporter asked him about his brilliant investment history, Rogers' answer was a bit unexpected, but it was also reasonable.

He gave an example. "When I was very young, one year, I judged that the stock market was going to crash. In America, you can make money by short selling. Later, as I expected, the stock market plummeted and financial institutions went bankrupt. In a flash, my funds tripled. I felt really smart at the time. " After tasting the sweetness, Rogers judged that the market was still in the next step, so he concentrated all his funds on shorting, but the stock market rose very uncoordinated. "In the end, I can only cut the position, and there is no money in the account." I was poor and sold all my motorcycles. "Afterwards, he found that he didn't know what he was doing at that time, and his judgment on the continuous decline of the stock market actually didn't have any research to support it, so he suddenly realized that" after success, he will often be carried away by victory. At this time, he especially needs calm thinking. "

In fact, Rogers has been successfully playing the role of a legendary investor, which appeared when he was six years old. At that time, he was allowed to sell soft drinks and peanuts in the Youth League, so Rogers borrowed $65,438+000 from his father to buy a peanut baking equipment. Five years later, he not only returned the "start-up capital" he had borrowed, but also made a profit of 100 USD. After graduating from Yale and Oxford, Rogers and Soros co-founded the Quantum Fund. During the ten years from 1970 to 1980, the compound income of Quantum Fund was as high as 37%, exceeding Buffett's 29% and Peter Lynch's 30% in the same period. Soros once said in an interview with reporters: Rogers' most important idea should be defense industry stocks. At that time, the defense industry was completely ignored. Since the end of the last defense industry boom, only one or two analysts have stayed to continue studying this industry. After 1980 parted ways with Soros, at 1982, Rogers began to buy West German stocks in batches, and at 1985 and 1986, he gained three times. The actual situation at that time was that from 196 1 to August 1982, there was never a bull market in West Germany, completely ignoring the sustained and vigorous development of the West German economy in the past 2 1 year. Therefore, Rogers believes that the West German stock market has the value of intervention, and investing in the West German stock market can guarantee no loss. After confirming the overall investment value, Rogers also saw the opportunity for the West German stock market to take off at that time-the West German general election. As a result, on the day when the Christian Democratic Party won the election, the West German stock market soared and Rogers was a great success.

1984, Rogers personally visited Austria when the Austrian stock market, which received little attention from the outside world, plummeted to half of 196 1. After careful investigation and study, he decided that the opportunity had come, so he bought a lot of stocks and bonds of Austrian enterprises. In the second year, the Austrian stock market came back to life, and the Austrian stock market index rose 145% in the skyrocketing. Rogers gained a lot, so his reputation is far-reaching. People respectfully call him "the father of Austrian stock market".

For investment, Rogers' advice to everyone is, "Everyone should find a suitable investment method. Personally, I prefer those neglected and cheap stocks. But it takes courage to make a choice that deviates from the public. I think the most important thing is solid research and analysis. " He repeatedly stressed that "if you want to make big money for a long time, you must be down to earth."

I made a lot of money by buying China B shares.

Rogers wrote in the preface of the Chinese version of Venture Capitalist: "Of the 1 16 countries I have been to, I like China best, and I really want to settle in Shanghai, China." He also said on many occasions that "19th century is the century of Britain, 20th century is the century of the United States, and 2 1 century is the century of China."

Rogers obviously didn't just talk. 1999 When passing through Shanghai, I specially went to Haitong Securities Business Department to open a B-share account. "Before, all my friends said never to invest in China B shares. But I know that if they say so, I should invest. " In fact, B-shares did have a continuous daily limit, and Rogers made a profit of 500%.

He believes that despite recent worries about macro-control, there are still many investment opportunities in China, such as futures, tourism or transportation. "I will visit Shanghai Commodity Exchange and Dalian Commodity Exchange next to prepare for the next round of investment. I will also open a stock trading account in China for my daughter, although she is only 1 1 month old. " In the face of everyone's surprised expression, Rogers added, "I'm going to let my daughter learn Chinese. I want her to know China."

Rogers' Seven Investment Rules

1. Diligence.

"I don't think I'm smart, but I do work very, very hard. If you can work very hard and love your job, you have the possibility of success. " Soros also confirmed this. Soros said in an interview with reporters, "Rogers is an outstanding analyst, and he is particularly diligent. One person does the work of six people. "

2. Think independently.

"I always find it useful to work hard. I find it easy and profitable if I only act in the way I understand, instead of asking others to tell me what to do. " Rogers never paid attention to the securities analysts on Wall Street. He thinks these people follow the crowd, but in fact no one can get rich by following the crowd. "I can assure you that the market is always wrong. We must think independently and must abandon the herd mentality. "

3. Don't go to business school.

"Learn history and philosophy. Nothing is better than going to business school. As a waiter, travel to the Far East. " When Rogers teaches at Columbia University of Economics, he always tells all the students that he should not come to the School of Economics, which is a waste of time, because if the opportunity cost is included, he will spend about $654.38 million+/kloc-$0.0 million during his study. The money is better spent on investment and business than on school education. Although he may make money or lose money, it is better than sitting in the classroom for two or three years and listening to a "senior professor" who has never done business.

4. Never lose money.

"Don't do anything unless you really know what you are doing. If you make a profit of 50% in two years and lose 50% in the third year, you might as well put your money into the national debt market. You should wait patiently for a good opportunity, make money and profit, and then wait for the next opportunity. In this way, you can beat others. " "So, my advice is never to lose money, do what you are familiar with, and wait until you find an excellent investment opportunity."

5. Law of value investment.

If you buy goods because they have real value, even if the timing is wrong, you won't suffer heavy losses. "In normal times, it is best to sit still, buy and sell as little as possible, and always wait patiently for investment opportunities." "I don't think I'm a speculator, I'm just an opportunist, waiting for the opportunity to appear and attacking with confidence," Rogers said.

6. Wait for the catalyst to appear.

Market trends often indicate a long-term downturn. In order to avoid the stagnation of funds in the market, you should wait for the catalytic factors that can change the market trend.

7. Quiet as a virgin.

"One of the laws of investment is to do nothing unless something important really happens. Most investors always like to go in and out and find something to do. They may say,' Look how smart I am, my income has tripled. Then they go to do other things, but they can't sit down and wait for the natural development of the general trend. "Rogers dismissed the idea of" taking chances "." This is actually a dead end that leads to the ruin of investors. Some people who have suffered losses in the stock market will say,' I lost a sum of money, and I must find a way to earn it back.' The more you encounter this situation, the more calm you should be, and wait until something new happens in the market before taking action. "

Rogers invests in Zhen Jing company.

1. It is generally not wrong to buy stocks that others are not optimistic about, although sometimes it takes a while.

I succeeded in investing mainly because I bought stocks with very low prices, at least I think the prices are very low.

The signal that the bull market is over is a series of basic changes in our way of life. For example, 1972, oil rose from $3 to $34 per barrel. European countries began to use nuclear power plants instead of oil to generate electricity, and the oil supply in the North Sea and Alaska increased; By 1978, oil production exceeded demand for the first time in many years-this is the main basic change and the signal of the end of the bull market.

4. When you see the news headlines about the discovery of new oil reservoirs or the sudden emergence of windmill farms in major cities; When you see the new mineral supply market; When you find that the inventory of all commodities is increasing, these are the basic changes-that is, when you withdraw from commodity investment, the bull market is over.

The 1980s and 1990s were bear markets for commodities, and few commodities were so cheap as in recent years-you will see this when you compare the consumer price index or the prices of other financial assets (such as stocks and bonds).

Two principles of investing in A shares

In fact, Rogers has already set his sights on China.

1999, Rogers bought China stock for the first time, started to go long and held it for 8 years. "

Rogers put forward two principles about how to do more China.

First of all, we should pay attention to the stock market decline-every time the China stock market plummets, it may provide investors with an opportunity to enter. (March 2008)

As early as the beginning of July (2007), Rogers said that if the stock market fell by 40%~50% at that time, he would greatly increase his holdings when the China government cooled the stock market. (accurate prediction! )

Secondly, we should pay attention to the actions of the China government.

"You must pay attention to what the government is doing. I am not a fan of the government, but when the government does something, there are huge opportunities. " Rogers believes that at present, China government is spending tens of billions of dollars to improve railway construction, water system construction, solve farmers' problems and so on, and there are gold mines to be dug here. (Nuclear energy, new energy, wind energy, new energy, solar energy, environmental protection and military industry are promising)