Monday, June 21, 2010

George Soros on Jim Rogers: He Is Not a Great Investor

Jim Rogers once worked for George Soros.

Since they departed ages ago, I have never seen them speak about one another, until today. This morning I posted a youtube video of George Soros being trapped in his own statements by a Chinese gentleman who appears to be using the arguments developed by Tom Woods in his book, Meltdown.

After the debate between the the Chinese gentleman and Soros, the video tape went into a Chinese voiceover, but the patient are indeed rewarded. I listened through the Chinese voiceover only to discover on the other end of the voiceover Soros discussing Rogers.

A second Chinese gentlemen who appears to be an anchor asked Soros about the investment style of Rogers and also Warren Buffett. It is unclear if the anchor was aware that Rogers once worked for Soros.

Soros answered the question by telling the audience that Rogers once worked for him, and then said that when Rogers worked for him he did the work of 8 people. He went on to say that he and Rogers parted ways because although Rogers was a great analyst that could do the work of 8, he did not want to work with 7 others. Soros then said that although Rogers is a great analyst, he does not think Rogers has been a great investor. How Soros could actually know such a thing, since Rogers is a private investor and does not have to disclose his positions or profit and loss statement, is unknown.

The video is in my earlier post, here. The relevant part of the clip starts at roughly the 7 minute mark.

14 comments:

  1. Great video. Proves you don't have to be a great economist or be knowledgeable about the history of economics to have some success in investing. In fact there is much evidence to suggest that studying and understanding the various theories of economics reveals a personality not suited to money management or any business endeavor.

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  2. @Efinancial Soros studied economics in London with some of the best free market economist. If you study his investment patterns you will see that he knows about the Austrian Business cycle. But he is part of the corporate system and he benefits greatly of it so he has to play dumb and say the official version.

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  3. Well said Hugo.

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  4. He admits during the interview that he plays the bubbles...and since he plays the bubbles the markets need government regulation to reign in people like himself. LOL. He never really says what it is the government should be doing in all of this...in typical elitist fashion he rolls his eyes and pooh poohs some very pointed questions without really answering any of them.

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  5. http://books.google.com/books?id=JS9HpSYncTMC&pg=PA8&lpg=PA8&dq=%22alchemy+of+finance%22+keynes&source=bl&ots=DQFg91VLyo&sig=QufIGk3CfIB9UUyFjA6KKb2qzrQ&hl=en&ei=9aogTPDaJoP98Ab9k7xw&sa=X&oi=book_result&ct=result&resnum=3&ved=0CB4Q6AEwAg#v=onepage&q=%22alchemy%20of%20finance%22%20keynes&f=false

    Read page 17

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  6. Even Jim Rogers has said he's a terrible market timer. He would admit he's not a "great investor." I'm not a great artist. Have I "dissed" myself?

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  7. Anonymous - page 17 is quite interesting. thanks.

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    1. Interesting until you look at the facts! The currency markets are THE most government manipulated markets there are. I am going to include gold as part of the currency market as many people believe gold to be a currency. Gold is the largest commodity market in the world, so if you just want to take half as currency and include it into the manipulation then that could be a safe "plug"

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  8. The first Chinese gentleman is Zhang Wei Yin, one of China's top economist. He is a professor and also president of the management institue in Peking University, China's top univesity.

    In 2008, He made a publicly speaking call to bury Keynesism forever.

    There is Chinese economist that aren't stupid.

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  9. @Jerry
    You are so right and thanks for to that my children will learn mandarin

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  10. BOTH ARE NOT INVESTORS THEY ARE PLAYERS DIRTY PLAYERS

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  11. Soros as 10+ billion, Rogers 300 million so Soros definitely has the upper hand. But if he was a true gentleman, he would have avoided criticizing his former partner. One thing you don't hear too much about is that in reality Soros never shorted the pound. Cheers.

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  12. Soros is wealthier but Rogers definitely seems to have had the cooler life

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