Author Jim Rogers Weighs In On The Rise And Inevitable Drop Of The Dow
By John Ostapkovich
PHILADELPHIA (CBS) - A legendary investor and Guinness record-holder has a lot of stories to tell, and a lot of concerns for our current stock climate.
Jim Rogers now makes his home in Singapore but was raised in an Alabama town so small his phone number was 5, just 5. Yale and Oxford broadened his horizons, co-founding the Quantum Fund with George Soros fattened his wallet, so that between 1999 and 2002 he drove pretty much every place you can drive in the world.
He sums it all up in his new memoir 'Street Smarts: Adventures on the Road and in the Markets'. Asked about the current sky high Dow, he says it's due to a dangerous game.
"This is the only time in recorded history that all major central banks are printing money at the same time and everybody's trying to debase the value of the money. I suspect it's going to end very, very badly in the end, but in the meantime a lot of people are having a lot of fun."
Rogers says he now focuses on raising and enjoying the two daughters he fathered in his 60's.
For more, go to http://www.jimrogers.com.
