Word: worldly
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...superbull on commodities. His investment convictions spring from an unflappable confidence in his ability to spot emerging secular trends. He looks at the same headlines we all do - that the U.S. government is running gargantuan deficits, that China's huge account surpluses are being smartly invested, that the world economy is experiencing tectonic shifts. But Rogers sees each bit of news as a piece of a bigger puzzle. When he finally can divine what the puzzle says, he bets heavily, writes books about it and gathers a crowd around him. No one knows how heavily he bets, because Rogers...
...Consider what he did the last time he saw one of these trends coming: in the early '90s, he traveled the world on his motorcycle, then wrote a book, Investment Biker, that helped popularize emerging markets at the beginning of their long bull run. (See pictures of the top 10 scared stock traders...
...Thirty years ago, 3 billion people were not even participating in the world economy, and now they are trying to live like we do," he notes. That emerging megaforce, says Rogers, will put a supertight squeeze on commodity prices across the board, from beef to bullion. For the unconvinced, he pulls out a chart showing the average daily per capita consumption of oil in the U.S. at 0.677 bbl., vs. India's infinitely smaller consumption (0.021 bbl.) and China's (0.049 bbl.). "Even if the Chinese and Indians just start consuming as much electricity as Koreans now do, the price...
...city of Guangzhou with investment guru Jim Rogers and Kirby Daley, an outspoken Hong Kong - based financial strategist. Though both Americans, the two appeared to be engaged in a contest to decide who could bash their home country the hardest. Rogers called China "the next great country of the world," while comparing a debt-burdened America to the failed British Empire. Daley lambasted American economic policy as ill conceived and out of touch. Rogers warned his listeners against a declining U.S. dollar; Daley said the U.S. consumer, who has been the world's most important, was spent as an economic...
...sure, there's no denying the facts. The U.S. is the world's largest debtor nation and only digging itself in deeper. Respect for corporate America is evaporating. Profligacy produced sham economic growth. A disconnect between Washington's global ambitions and its available resources - what British historian Paul Kennedy calls "imperial overstretch" - has undermined national strength...