Jim Rogers first made his name when he co-founded the Quantum Fund with George Soros.
In 2007, he packed up and moved to Singapore where he is essentially shorting the west.
Behind Rogers' quick wit and endless charm are brilliant investing insights he gained during his lengthy and legendary career.
We've put together 14 of the best insights that every investor will find helpful.
"Most successful investors, in fact, do nothing most of the time."
Once you've invested in something, done your research, made money and decide to sell you need to be careful, according to Jim Rogers.
"Now that is a very dangerous time. It is dangerous because you think you are really hot. It is the time when you think you know that this investing thing is an easy game. It is the time that you should open the curtains, look out the window, go to the beach, do anything but think about investing. Because now is when you're most vulnerable. You think: I have to find something else. I have to do it again. This is wonderful. This is so easy. Just as I thought after tripling my money with my puts. ...It is the great mistake people make."
Source: Street Smarts
"If you want to make a lot of money resist diversification."
Brokers will tell you to diversify but Rogers writes that this is mostly to protect themselves.
"If you buy ten different stocks, chances are some will be good," writes Rogers. "You are not going to go broke, but you are not going to make a lot of money, either. ...The way to get rich is to find what is good, focus on it, and concentrate your resources there. But make very sure you are right. Because it is also a fast way to go broke."
Source: Street Smarts
"It is remarkable how many people mistake a bull market for brains."
"There is nothing quite like a bull market to make people think they are smart," writes Rogers. "...All big bull markets, secular bull markets end in a bubble. Everyone chases the conventional wisdom, following what they read in the press, and the presents the smart investor with opportunities."
Source: Street Smarts
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