Jim Rogers is a renowned international investor. In 1973, he co-founded the Quantum Fund with George Soros. After a fantastically successful decade, he retired to travel the world. He is the author of Investment Biker: On The Road With Jim Rogers and A Bull in China: Investing Profitably in the World’s Greatest Market, among other books.
He also runs the Rogers Global Resources Equity Index. Recently Rogers sat down with Steve Forbes to talk about why the global economy is moving to Asia, where he’s putting his money and what the U.S. can do to right the ship. Video and a transcript of their conversation follows.
Steve Forbes: Jim Rogers, thank you for joining us.
Jim Rogers: My pleasure.
Forbes: Let’s go through a little bit of history. You teamed up in the early 1970s with George Soros. Had a great fund, got out in the early 1980s. Quickly recapture what you did and how you did it at such a young age.
Rogers: Well, we had a successful ten years. I didn’t want to wake up at 75 and still be looking at a computer screen. I’d always wanted to have more than one life, so off I set to have more than one life. And I’ve had more than one life. I retired. I was 37. And set off to have more than one life.
Forbes: Any motorcycle trips in the offing? Any more books on the exotic places of the world?
Rogers: No. I went around the world in a car, 1999 to 2001, and I really haven’t been on a motorcycle much since then. It grieves me that you ask, because some of the finest times of my life were on motorcycles, including the trip around the world on the motorcycle. But now I’m doing other things. I’ve got two little girls. I’m living in Singapore, which is not a great motorcycle place. Now I’m doing other things.
Forbes: I can’t imagine you speeding there.
Rogers: No, no. I mean, the speed limit is 90 kilometers an hour! It’s not a great motorcycle place.
Forbes: Not to be negotiated.
Rogers: Right, and not negotiable. You’re right. Exactly.
Forbes: Talking about Singapore, when you moved there you decided to have three dates: 1807, you’d move to London. 1907, you’ve got to go to New York. 2007, you’re in Asia, specifically Singapore. Why?
Rogers: Well, the 20th century was the century of the U.S. The 19th century was the century of the U.K. The 21st century will be the century of Asia, and it’s becoming more and more evident. And especially of China. I wanted my children to grow up knowing Asia and speaking Mandarin. I think the best skills that I can give two girls born in 2003 and 2008 is to know Asia and to know Mandarin. So there we are. I couldn’t do it in New York. I tried. I tried doing it in New York. But it was not possible. So there we are.
Forbes: What do you see as the problem with the U.S.?
Rogers: The main problem is the staggering debt. We are the largest debtor nation in the history of the world, Steve, as you undoubtedly know, because you probably read Forbes. It’s amazing how high the debt is, and it’s going up by leaps and bounds. It’s just mind boggling how fast it’s going up. Nobody seems to understand or care what the significance and the consequences will be. It’s not good. It’s not good news.
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