James Beeland Rogers Jr. (born October 19, 1942) is an American investor and financial commentator based in Singapore. Rogers is the chairman of Beeland Interests, Inc. He was the co-founder of the
Quantum Fund
The Quantum Group of Funds are privately owned hedge funds based in London, New York, Curaçao (Kingdom of the Netherlands) and Cayman Islands. They are advised by George Soros through his company Soros Fund Management. Soros started the fund i ...
and
Soros Fund Management
Soros Fund Management, LLC is a private American investment management firm. It is currently structured as a family office, but formerly as a hedge fund. The firm was founded in 1970 by George Soros and, in 2010, was reported to be one of the mos ...
. He was also the creator of the
Rogers International Commodities Index (RICI).
Rogers does not consider himself a member of any school of economic thought, but has acknowledged that his views best fit the label of the
Austrian School
The Austrian School is a heterodox school of economic thought that advocates strict adherence to methodological individualism, the concept that social phenomena result exclusively from the motivations and actions of individuals. Austrian school ...
of economics.
Early life
Rogers was born in
Baltimore, Maryland
Baltimore ( , locally: or ) is the List of municipalities in Maryland, most populous city in the U.S. state of Maryland, fourth most populous city in the Mid-Atlantic (United States), Mid-Atlantic, and List of United States cities by popula ...
and raised in
Demopolis, Alabama
Demopolis is the largest city in Marengo County, in west-central Alabama. The population was 7,162 at the time of the 2020 United States census, down from 7,483 at the 2010 census.
The city lies at the confluence of the Black Warrior River and T ...
.
[
]
Education
In 1964, Rogers graduated with a bachelor's degree
A bachelor's degree (from Middle Latin ''baccalaureus'') or baccalaureate (from Modern Latin ''baccalaureatus'') is an undergraduate academic degree awarded by colleges and universities upon completion of a course of study lasting three to six ...
cum laude in history from Yale University
Yale University is a private research university in New Haven, Connecticut. Established in 1701 as the Collegiate School, it is the third-oldest institution of higher education in the United States and among the most prestigious in the wo ...
. He got his first job on Wall Street
Wall Street is an eight-block-long street in the Financial District of Lower Manhattan in New York City. It runs between Broadway in the west to South Street and the East River in the east. The term "Wall Street" has become a metonym for t ...
, at Dominick & Dominick
Dominick and Dickerman is an investment and merchant banking firm, located in New York City. From 1899 through to 2015, the firm was known as Dominick and Dominick. Following the sale of the wealth management business, the firm reverted to its ...
.
In 1966, Rogers then acquired a second BA degree in philosophy, politics and economics from the University of Oxford
, mottoeng = The Lord is my light
, established =
, endowment = £6.1 billion (including colleges) (2019)
, budget = £2.145 billion (2019–20)
, chancellor ...
, as a member of Balliol College
Balliol College () is one of the constituent colleges of the University of Oxford in England. One of Oxford's oldest colleges, it was founded around 1263 by John I de Balliol, a landowner from Barnard Castle in County Durham, who provided the f ...
.
In April 2019, he received an honorary Ph.D. from Pusan National University
Pusan National University (PNU), also called Busan National University, is one of ten Flagship Korean National Universities in South Korea and second highest public universities in South Korea.
Located mainly in Busan (or Pusan), the universi ...
for his books containing positive messages on Korean reunification.
Business career
In 1964, Rogers joined Dominick & Dominick LLC on Wall Street, where he first learned about stocks and bonds. From 1966 to 1968, Rogers was in the U.S. Army during the Vietnam War
The Vietnam War (also known by #Names, other names) was a conflict in Vietnam, Laos, and Cambodia from 1 November 1955 to the fall of Saigon on 30 April 1975. It was the second of the Indochina Wars and was officially fought between North Vie ...
.
In 1970, Rogers joined investment bank Arnhold and S. Bleichroder, where he worked with George Soros
George Soros ( name written in eastern order), (born György Schwartz, August 12, 1930) is a Hungarian-American businessman and philanthropist. , he had a net worth of US$8.6 billion, Note that this site is updated daily. having donated mo ...
.
In 1973, Soros and Rogers both left and founded the Quantum Fund
The Quantum Group of Funds are privately owned hedge funds based in London, New York, Curaçao (Kingdom of the Netherlands) and Cayman Islands. They are advised by George Soros through his company Soros Fund Management. Soros started the fund i ...
. From 1973 to 1980, the portfolio gained 4,200% while the S&P advanced about 47%. The Quantum Fund was one of the first truly global funds. In 1980, Rogers decided to "retire" and traveled on a motorcycle around the world. He has since been a guest professor of finance at the Columbia Business School
Columbia Business School (CBS) is the business school of Columbia University, a Private university, private research university in New York City. Established in 1916, Columbia Business School is one of six Ivy League business schools and is one ...
.
In 1985, he said the Vienna Exchange had high potential of being a bull market.
In 1989 and 1990, Rogers was the moderator of WCBS' ''The Dreyfus Roundtable'' and FNN's ''The Profit Motive with Jim Rogers''. From 1990 to 1992, he traveled through China again and around the world on motorcycle, covering over 100,000 miles (160,000 km) across six continents. His journey was listed in the ''Guinness Book of World Records
''Guinness World Records'', known from its inception in 1955 until 1999 as ''The Guinness Book of Records'' and in previous United States editions as ''The Guinness Book of World Records'', is a reference book published annually, listing world ...
''. He tells of his adventures and worldwide investments in the bestseller ''Investment Biker.''
In 1998, Rogers founded the Rogers International Commodity Index
The Rogers International Commodity Index (RICI) is a broad index of commodity futures designed by Jim Rogers in 1996/1997. The first fund tracking the index began on July 31, 1998.
Overview
The index was designed to meet the need for consistent ...
. In 2007, the index and its three sub-indices were linked to exchange-traded note An exchange-traded product (ETP) is a regularly priced security which trades during the day on a national stock exchange. ETPs may embed derivatives but it is not a requirement that they do so - and the investment memorandum (or offering documents ...
s under the banner ELEMENTS. The notes track the total return of the indices as an accessible way to invest in the index. Rogers is an outspoken advocate of agriculture investments.
Between January 1, 1999, and January 5, 2002, Rogers went on another Guinness-recognized journey through 116 countries, covering 245,000 kilometers with his wife Paige Parker in a custom-made Mercedes. The trip began in Iceland
Iceland ( is, Ísland; ) is a Nordic island country in the North Atlantic Ocean and in the Arctic Ocean. Iceland is the most sparsely populated country in Europe. Iceland's capital and largest city is Reykjavík, which (along with its s ...
, which was about to celebrate the millennial anniversary of Leif Eriksson
Leif Erikson, Leiv Eiriksson, or Leif Ericson, ; Modern Icelandic: ; Norwegian: ''Leiv Eiriksson'' also known as Leif the Lucky (), was a Norse explorer who is thought to have been the first European to have set foot on continental North ...
's first trip to America. On January 5, 2002, the couple returned to their New York home on Riverside Drive. He wrote ''Adventure Capitalist'' following this around-the-world adventure.
2002 to present
On his return in 2002, Rogers became a regular guest on Fox News
The Fox News Channel, abbreviated FNC, commonly known as Fox News, and stylized in all caps, is an American multinational conservative cable news television channel based in New York City. It is owned by Fox News Media, which itself is owne ...
' ''Cavuto on Business'' and other financial TV shows. In 2005, Rogers wrote ''Hot Commodities: How Anyone Can Invest Profitably in the World's Best Market'', in which Rogers quotes a ''Financial Analysts Journal
The ''Financial Analysts Journal'' is a quarterly peer-reviewed academic journal covering investment management, published by Routledge on behalf of the CFA Institute. It was established in 1945 and , the editor-in-chief is William N. Goetzmann.
...
'' academic paper co-authored by Yale School of Management
The Yale School of Management (also known as Yale SOM) is the graduate business school of Yale University, a private research university in New Haven, Connecticut. The school awards the Master of Business Administration (MBA), MBA for Executives ...
professor, Geert Rouwenhorst
K. Geert Rouwenhorst is the Robert B. and Candice J. Haas Professor at Yale School of Management and Deputy Director for International Financial Center at Yale. He is also a partner at SummerHaven Investment management. His work has traced the hi ...
, entitled ''Facts and Fantasies about Commodity Futures''.
In December 2007, Rogers sold his mansion in New York City for about $16 million and moved to Singapore
Singapore (), officially the Republic of Singapore, is a sovereign island country and city-state in maritime Southeast Asia. It lies about one degree of latitude () north of the equator, off the southern tip of the Malay Peninsula, borde ...
. Rogers said he moved because now is a groundbreaking time for investment potential in Asian markets. His daughters speak fluent Mandarin to prepare them for the future. He said, "If you were smart in 1807, you moved to London, if you were smart in 1907, you moved to New York City, and if you are smart in 2007, you move to Asia."
In a CNBC interview with Maria Bartiromo
Maria Sara Bartiromo (born September 11, 1967) is an American financial journalist, television personality, news anchor, and author. She is the host of ''Mornings with Maria'' and '' Maria Bartiromo's Wall Street'' on the Fox Business Network as ...
broadcast on May 5, 2008, Rogers said people in China are extremely motivated and driven, and that he wants to be in that type of environment so his daughters are motivated and driven. He added that this is how America and Europe used to be. He chose not to move to Chinese cities like Hong Kong or Shanghai due to high pollution potentially causing health problems for his family. However, he remains skeptical of India
India, officially the Republic of India (Hindi: ), is a country in South Asia. It is the seventh-largest country by area, the second-most populous country, and the most populous democracy in the world. Bounded by the Indian Ocean on the so ...
's future, saying in 2001, "India as we know it will not survive another 30 or 40 years".
In 2008, Rogers endorsed Ron Paul
Ronald Ernest Paul (born August 20, 1935) is an American author, activist, physician and retired politician who served as the U.S. representative for Texas's 22nd congressional district from 1976 to 1977 and again from 1979 to 1985, as well ...
, a Republican congressman, for president of the United States.
Personal life
Rogers has been married three times. In 1966, he married his first wife, Lois Biener; they divorced in 1969. In 1974, he married Jennifer Skolnik; they divorced in 1977. He married Paige Parker in 2000;[Meet The Legendary Investor Jim Rogers and His Family]
''Family & Life Magazine''. Farhan Shah. October 2013 they have two daughters.
In September 2012 Rogers was appointed by VTB Capital
VTB Capital (russian: ВТБ Капитал) is a Russian investment bank. It is one of the three strategic business arms of VTB Group, along with the corporate and retail businesses.
VTB Capital has been ranked among the top investment banks in ...
as an advisor to the agricultural division of its global private equity unit. Rogers noted: "Russia and the CIS
Cis or cis- may refer to:
Places
* Cis, Trentino, in Italy
* In Poland:
** Cis, Świętokrzyskie Voivodeship, south-central
** Cis, Warmian-Masurian Voivodeship, north
Math, science and biology
* cis (mathematics) (cis(''θ'')), a trigonome ...
region have all the ingredients needed to become the world's agriculture powerhouse. It seems that everything may now be coming together under VTB Capital to make this happen, so I am keen to participate, if the fund gets off the ground."
In February 2013 Rogers joined the board of advisors of the Coalition to Reduce Spending
The Coalition to Reduce Spending is a non-partisan political advocacy group based in Alexandria, Virginia, the United States. The mission of the Coalition to Reduce Spending is to advocate for reduced federal spending and balanced budgets. The c ...
.
In September 2015, he left the Indian market saying "one can't just invest on hope".
Financial advice
In 2002, Rogers said that Fed chairman Alan Greenspan
Alan Greenspan (born March 6, 1926) is an American economist who served as the 13th chairman of the Federal Reserve from 1987 to 2006. He works as a private adviser and provides consulting for firms through his company, Greenspan Associates LLC. ...
's "reaction to the stock-market bubble has caused two more bubbles to grow: a real-estate bubble and a consumer-debt bubble." In 2006, Rogers said he was shorting US financials, home builders and Fannie Mae
The Federal National Mortgage Association (FNMA), commonly known as Fannie Mae, is a United States government-sponsored enterprise (GSE) and, since 1968, a publicly traded company. Founded in 1938 during the Great Depression as part of the N ...
.
On November 4, 2010, speaking at Balliol College, Oxford, Rogers urged students to scrap career plans for Wall Street or the City, London's financial district, and to study agriculture and mining instead. "The power is shifting again from the financial centers to the producers of real goods. The place to be is in commodities, raw materials, natural resources."
In May 2012 he remarked during an interview with ''Forbes
''Forbes'' () is an American business magazine owned by Integrated Whale Media Investments and the Forbes family. Published eight times a year, it features articles on finance, industry, investing, and marketing topics. ''Forbes'' also re ...
'' magazine that "there's going to be a huge shift in American society, American culture, in the places where one is going to get rich. The stock brokers are going to be driving taxis. The smart ones will learn to drive tractors so they can work for the smart farmers. The farmers are going to be driving Lamborghinis. I'm telling you. You should start Forbes Farming." Rogers has been periodically bearish on the US stock market since the 1980s, notably 1987, 1998, 1999 & 2008. In February 2018, he reportedly predicted that the next bear market
A market trend is a perceived tendency of financial markets to move in a particular direction over time. Analysts classify these trends as ''secular'' for long time-frames, ''primary'' for medium time-frames, and ''secondary'' for short time-fram ...
would be "the worst in our lifetime."
Jim Rogers spoke to Forks Daily about market correction and his thoughts about Blockchain and Crypto Assets in September 2022 "Forks Exclusive with Mr Jim Rogers"
''Forks Daily'', September 4, 2022.
Bibliography
* 1994: ''Investment Biker: Around the World with Jim Rogers'' –
* 2003: ''Adventure Capitalist: The Ultimate Road Trip'' –
* 2004: ''Hot Commodities: How Anyone Can Invest Profitably in the World's Best Market'' –
* 2007: ''A Bull in China: Investing Profitably in the World's Greatest Market'' –
* 2009: ''A Gift to My Children: A Father's Lessons For Life And Investing'' –
* 2013: ''Street Smarts: Adventures on the Road and in the Markets'' –
* 2019: ''Number One Bestsellers in Japan: The Future of Japan''
* 2019: ''Number One Bestsellers in Japan: A Warning to Japan''
References
Further reading
*
*
External links
The Millennium Adventure Official Jim Rogers website
Jim Rogers blog*
{{DEFAULTSORT:Rogers, Jim
1942 births
Living people
Alabama Republicans
Alumni of Balliol College, Oxford
American business writers
American commodities traders
American economics writers
American emigrants to Singapore
American expatriates in Singapore
American financial analysts
American financial commentators
American financial company founders
American financiers
American finance and investment writers
American hedge fund managers
American investors
American libertarians
American male non-fiction writers
American money managers
American stock traders
Austrian School economists
Businesspeople from Alabama
Columbia Business School faculty
Economists from Alabama
George Soros
Oxford University Boat Club rowers
People from Demopolis, Alabama
Stock and commodity market managers
Writers from Alabama
Yale University alumni
United States Army soldiers
21st-century American economists