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 ▲ 1964, Alabama, USA. He graduated from Yale University ▲ 1964 to 1966, studied at Oxford University ▲ 1970 and co-founded the Quantum Fund with Soros. Made remarkable achievements ▲ 1980 After leaving the Quantum Fund, he gave lectures at Columbia University Business School ▲ 1989- 1990, completed his first trip around the world, was included in the Guinness Book of World Records ▲ 1998 and established the Rogers International Commodity Index (RICI). By June 2003, the index had risen by 1 19.73%, exceeding the main index ▲ 1999 in the same period. When I traveled around the world for the second time, I invested in Shanghai B shares, which was also a great success. Time called it the Indiana Jones of the financial world. jim rogers jim rogers, a long-time writer and legendary investor of Washington post, The New York Times, Baron, Forbes, Fortune, The Wall Street Journal and Financial Times, caused quite a stir in China. This investment master, once called by Buffett as "unparalleled in grasping the general trend", is legendary not only in his investment history, but also in those exciting trips around the world. When Rogers came slowly and gave everyone a humble smile, it was hard to imagine a series of legends behind his name: a Columbia University professor who founded the Quantum Fund with Soros, traveled around the world twice and broke the Guinness World Record, and was called Indiana Jones in the financial world by Time magazine. We can see a diligent, modest, enthusiastic, life-loving and humorous Rogers. "Investment is not speculation." This is the principle of his investment and the principle of his life. [Editor] Traveling around the world paves the way for investment "When my wife and I were waiting in Bolivia, we met the top wizards there. We gave her five dollars. As long as you give her $5, she will help you realize your wish. Our wish is to return to the United States alive. " Rogers, who is over 60 years old, said half-jokingly in his speech at China Europe International Business School, "You must remember to give the guide $5 when you go to Bolivia in the future-my life is the best example." Rogers talked about his trip around the world, dancing and boating, and he was as happy as a child. "Traveling around the world was my childhood dream!" He emphasized this sentence many times. 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 country-he was about to get his credit card back when he withdrew money from the local ATM, 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." [Editor] Investment Concept: Down-to-earth "The most successful investment in my life is my 1 1 eldest daughters. 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 device. 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, "If you want to make big money for a long time, you must keep your feet on the ground. "[Editor] 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 many times 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 is obviously not just talking. 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 rise continuously, 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 China stock trading account for my daughter, although she is only 1 1 month. " In the face of everyone's surprised expression, Rogers added, "I'm going to let my daughter learn Chinese, and I want her to know about China. "[Editor] Rogers' Seven Investment Rules 1. Diligence "I don't think I'm smart, but I really work 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. "Evaluation: No pains, no gains, but we should also pay attention to the" place ". Diligence is first of all a state of mind: every action is preceded by careful thinking and research; It is "precise strike after careful calculation"! 2. Think independently. " I always find it useful to work hard. I find it easy and profitable if I just do what I understand, instead of letting others tell me what to do. "Rogers never pays attention to securities analysts on Wall Street. He thinks these people are conformity, but in fact no one can make a fortune by conformity. " I can assure you that the market is always wrong. We must think independently and abandon the herd mentality. "Evaluation:" Everyone must find their own road to success, which is not guided by the government or provided by any consulting organization, and must be found by themselves. " -jim rogers. 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 was teaching at Columbia University of Economics, he always told all the students that he should not come to the School of Economics, which was a waste of time, because if the opportunity cost was included, he would spend about $654.38 million during his study. The money is better spent on investment and business than on schooling. Although he may make money or lose money, it is better than sitting in the classroom and listening to "senior professors" who have never done business for two or three years. Evaluation: success does not depend entirely on professional knowledge, but more importantly, a way of thinking and behavioral ability. Philosophy can make people wise, while history can make people learn new things and become smarter. 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 lose money, do what you are familiar with, and wait until you find an excellent investment opportunity. "Evaluation: Know yourself and know yourself, and fight every battle! Don't fight an unprepared war! 5. Law of value investment. If you buy goods because they have real value, you won't suffer heavy losses even if the timing is wrong. " 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 an opportunist, I'm just an opportunist, waiting for the opportunity to appear and attacking with confidence, "Rogers said. Evaluation: "missing the good opportunity" is better than "finding the wrong person": it will not be completely annihilated! Of course, it is best to find the right target! 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. Evaluation: "Everything is ready, except the east wind". Wait patiently for the opportunity and opportunity! 7. Quiet as a virgin. "One of the laws of investment is to do nothing unless something really important 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. "It is no good for Rogers to" take a chance "."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. "