Thursday 7 November 2013
Jim Rogers: The world economies are not improving.
Jim Rogers: For the first time in recorded history, all the major central banks in the world are printing money at the same time. So, the world is floating on a huge artificial lake of liquidity. It (the liquidity) has got to go somewhere and most of it is going into markets. The world economies are not getting so much better but the markets are certainly much better because of all the money printing.
Jim Rogers not optimistic about India.
Warren Buffett
Warren Edward Buffett (born August 30, 1930) is an American business magnate, investor, and philanthropist. He is known as most successful investor of the 20th century. Buffett is the chairman, CEO and largest shareholder of Berkshire Hathaway and consistently ranked among the world's wealthiest people. He was ranked as the world's wealthiest person in 2008 and as the third wealthiest person in 2011. In 2012, American magazine Time named Buffett one of the most influential people in the world.
Buffett is also known as "Oracle of Omaha" and is noted for his adherence to the value investing philosophy and for his personal frugality despite his immense wealth. On April 11, 2012, he was diagnosed with prostate cancer, for which he completed treatment in September 2012.
At the age of six, Buffett purchased 6-packs of Coca Cola from his grandfather's grocery store for twenty five cents and resold each of the bottles for a nickel, pocketing a five cent profit. While other children his age were playing hopscotch and jacks, Warren was making money. Its very encouraging to see that buffett who used to sell coca cola on trolley at the age of Six is now the owner of Coca Cola. He is the largest shareholder of the company.
At the age of eleven Buffet took his first step in the field of stock investing and purchased three shares of Cities Service Preferred at $38 per share. Shortly after buying the stock, it fell to just over $27 per share. A frightened but resilient Warren held his shares until they rebounded to $40. He promptly sold them - a mistake he would soon come to regret. Cities Service shot up to $200. The experience taught him one of the basic lessons of investing - patience is a virtue.
At the age of 13, Buffett was running his own businesses as a paperboy and selling his own horseracing tip sheet. That same year, he filed his first tax return, claiming his bike as a $35 tax deduction.
In 1942, Buffett's father was elected to the U.S. House of Representatives, and his family moved to Fredricksburg, Virginia, to be closer to the congressman's new post. Buffett attended Woodrow Wilson High School in Washington, D.C., where he continued plotting new ways to make money. During his high school tenure, he and a friend purchased a used pinball machine for $25. They installed it in a Washington, D.C. barbershop and, within a few months, the profits of the machine allowed Buffett and his friend to buy other machines. Buffett owned three machines in three different locations before he sold the business to a War Veteran for $1,200.
In 1962, Buffett became a millionaire because of his partnerships, which in January 1962 had an excess of $7,178,500, of which over $1,025,000 belonged to Buffett. Buffett merged all partnerships into one partnership. Buffett invested in and eventually took control of a textile manufacturing firm, Berkshire Hathaway. by 1967, he was expanding into the insurance industry and other investments. Berkshire first ventured into the insurance business with the purchase of National Indemnity Company. In the late 1970s, Berkshire acquired an equity stake in the Government Employees Insurance Company (GEICO), which forms the core of its insurance operations today (and is a major source of capital for Berkshire Hathaway's other investments). In 1985, the last textile operations (Hathaway's historic core) were shut down.
Buffett has formally endorsed and made campaign contributions to Barack Obama's presidential campaign. On July 2, 2008, Buffett attended a $28,500 per plate fundraiser for Obama's campaign in Chicago hosted by Obama's National Finance Chair, Penny Pritzker and her husband, as well as Obama advisor Valerie Jarrett. Buffett backed Obama for president, and intimated thatJohn McCain's views on social justice were so far from his own that McCain would need a "lobotomy" for Buffett to change his endorsement. During the second 2008 U.S. presidential debate, candidates John McCain and Barack Obama, after being asked first by presidential debate mediator Tom Brokaw, both mentioned Buffett as a possible future Secretary of the Treasury. Later, in the third and final presidential debate, Obama mentioned Buffett as a potential economic advisor. Buffett was also finance advisor to California Republican Governor Arnold Schwarzenegger during his 2003 election campaign.
In 2006, Buffett pledged most his fortune to the Gates Foundation and to four charitable trusts created by his family. Along with Bill and Melinda Gates, Warren Buffett is a foundation trustee, helping to shape our vision and develop strategies to address some of the world's most challenging inequities.
Marc Faber
Marc Faber (born February 28, 1946) is a Swiss investor and media commentator. Faber is publisher of the Gloom Boom & Doom Report newsletter and is the director of Marc Faber Ltd which acts as an investment advisor and fund manager. Faber also serves as director, advisor and shareholder of a number of investment funds that focus on emerging and frontier markets, including Leopard Capital’s Leopard Cambodia Fund and Asia Frontier Capital Ltd.'s AFC Asia Frontier Fund.
Faber is famous for advising his clients to get out of the stock market one week before the October 1987 crash.
Peter Schiff
Peter David Schiff (born March 23, 1963) is an American businessman, investment broker, author and financial commentator. Schiff is CEO and chief global strategist of Euro Pacific Capital Inc. As a result of his accurate forecasts on the U.S. stock market, economy, real estate, the mortgage meltdown, credit crunch, sub-prime debacle, commodities, gold and the dollar, he is becoming increasingly more renowned.
Peter Schiff is a frequent guest on television, he appears regularly on CNBC, Bloomberg, and FOX News, edits the Global Investor, an investment newsletter, and hosts a weekly radio program Wall Street Unspun.
Peter Schiff began his investment career as a stock broker with Shearson Lehman Brothers, after having earned a degree in finance and accounting from U.C. Berkeley in 1987. In 1996 Schiff and a partner acquired a small brokerage firm that had been founded in 1980, reincorporated it in California and renamed it Euro Pacific Capital. An expert on money, economic theory, and international investing, Peter Schiff is a highly recommended broker by many leading financial newsletters and investment advisory services. He is also a contributing commentator for Newsweek International
Peter Schiff was an economic adviser to Ron Paul's 2008 presidential campaign. In support of Paul's economic revitalization plan, he said: "We need a plan that stimulates savings and production, not more of the reckless borrowing and consumption that got us into this mess in the first place. Ron Paul's plan is the only one that amounts to a step in the right direction. Schiff supports the reduction of government economic regulation, and is concerned that President Obama's administration may increase such regulation. Schiff says that the current economic crisis provides an opportunity to transition from borrowing and spending, to saving and producing. Schiff is critical of the U.S. government's efforts to "ease the pain" with economic stimulus packages and bailouts. According to Schiff, the U.S. government's approach of replacing "legitimate savings with a printing press" could result in hyperinflation.
Peter Schiff was an economic adviser to Ron Paul's 2008 presidential campaign. In support of Paul's economic revitalization plan, he said: "We need a plan that stimulates savings and production, not more of the reckless borrowing and consumption that got us into this mess in the first place. Ron Paul's plan is the only one that amounts to a step in the right direction. Schiff supports the reduction of government economic regulation, and is concerned that President Obama's administration may increase such regulation. Schiff says that the current economic crisis provides an opportunity to transition from borrowing and spending, to saving and producing. Schiff is critical of the U.S. government's efforts to "ease the pain" with economic stimulus packages and bailouts. According to Schiff, the U.S. government's approach of replacing "legitimate savings with a printing press" could result in hyperinflation.
Schiff is known for his bearish views on the US economy and US dollar, and his bullish views on commodities, foreign stocks and foreign currencies.
George Soros
George Soros (born August 12, 1930, as Schwartz György) is a Hungarian American business magnate, philanthropist and investor. He is the chairman of Soros Fund Management. He is known as "The Man Who Broke the Bank of England" because of his US$1 billion in investment profits during the 1992 Black Wednesday UK currency crisis.
After surviving the Nazi invasion and occupation of Hungary in the early 1940s, Soros fled then-Communist-dominated Hungary in 1947 and made his way to England. There, at the London School of Economics, Soros began studying Karl Popper’sThe Open Society and Its Enemies, which explores the philosophy of science and serves as Popper’s critique of totalitarianism. The essential lesson the book imparted to Soros was that no ideology owns the truth, and that societies can flourish only when they operate freely and openly and maintain respect for individual rights—thoughts that would deeply influence Soros for the rest of his life.
In 1956, Soros moved to New York City where he worked as an arbitrage trader for F. M. Mayer (1956–59) and as an analyst for Wertheim & Co. (1959–63). Later, while working as a financial analyst and trader in New York, Soros adapted Popper’s thinking in developing his own application of the social theory of “reflexivity,” a set of ideas that seeks to explain how a feedback mechanism can skew how participants in a market value assets on that market. After concluding that he had more talent for trading than for philosophy, Soros began to apply his ideas on reflexivity to investing, using it to predict, among other things, the emergence of financial bubbles. In 1967, he helped establish an offshore investment fund. In 1973, he set up a private investment firm that eventually evolved into the Quantum Fund, one of the first hedge funds.
The most of people know him during the great depression of 1992. He speculated on sterling’s fall, and he caused important fluctuations such as the British currency was forced out of the monetary system. This bet allowed him to earn a billion in one night and he was called as “the man who broken the Bank of England”.
Soros is a well-known supporter of progressive-liberal political causes. Between 1979 and 2011, Soros gave away over $8 billion to causes related to human rights, public health, and education. He played a significant role in the peaceful transition from communism to capitalism in Hungary (1984–89) and provided one of Europe's largest higher education endowments to Central European University of Budapest. Soros is also the chairman of the Open Society Foundations.
Jim Rogers
Jim Rogers also presents many television shows on various channels dedicated to finance’s subjects. His analyses are regularly published on Wall Street Journal, Forbes, Financial Times, Washington Post….
With a degree from Yale University in his curriculum, Jim Rogers his first job at Wall Street. Six years later, he joined the consulting and investment firm Arnhold & S. Bleichroederen where he worked with George Soros and created the famous investment fund “Quantum Fund”, remembered one of the first truly international funds that has been able to grow by 4200% in ten years.
At 37 years old, Jim Rogers has retired and spent some of his time traveling on a motorcycle around the world. He has accepted a position as professor of finance at Columbia University School of Business and he continuing to manager his own portfolio.
In 1998, he created the Rogers International Commodity Index (RICI) and in 2011,he has started a new index fund which focuses on "the top companies in agriculture, mining, metals and energy sectors as well as those in the alternative energy space including solar, wind and hydro." The index is called The Rogers Global Resources Equity Index and according to Rogers, only the best and most liquid companies go into the index.
In December 2007, Jim Rogers sold his mansion in New York City and moved to Singapore. He claimed that he moved because now is a ground-breaking time for investment potential in Asian markets. Rogers's first daughter is now being tutored in Mandarin to prepare her for the future. He is quoted as saying: "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 broadcast on May 5, 2008, Rogers said that people in China are very motivated and driven, and he wants to live that type of environment, so his daughters are motivated and driven. He also stated that this is how America and Europe used to be. He chose not to move to Chinese cities like Hong Kong or Shanghai which posed a risk to health hazard for his family due to pollutions; hence, he chose Singapore. He has also advocated investing in certain smaller Asian frontier markets such as Sri Lanka and Cambodia, and currently serves as an Advisor to Leopard Capital’s Leopard Sri Lanka Fund. However, he is not fully bullish on all Asian nations, as he is not optimistic of India's future – "India as we know it will not survive another 30 or 40 years".
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