Our favorite investor, Jim Rogers, was recently interviewed by BusinessWeek magazine - he's been in the media quite a bit recently, plugging his new book A Gift to My Children: A Father's Lessons for Life and Investing, which is scheduled to be released this Tuesday, April 28.Here are a few of my favorite excerpts below - and you can read the whole piece on BusinessWeek.com.
On diversification:
"Diversification is something that stock brokers came up with to protect themselves, so they wouldn't get sued [for making bad investment choices for clients]. Henry Ford never diversified, Bill Gates didn't diversify. The way to get rich is to put your eggs in one basket, but watch that basket very carefully. And make sure you have the right basket."
On commodities:
"If the world economy is going to revive, commodities are going to lead it back up. If the world economy is not going to revive, commodities are still the place to be—especially with governments printing so much money. Look at the 1970s. The world economy was in the tank, but commodities did very well. We have supply constraints. Oil production is declining."
"The prices historically are still very depressed, compared with most other commodities. I bought all commodities recently, but I probably bought more agriculture than anything else."
More recent coverage of Jim Rogers:
- Jim prefers oil over gold right now
- An excellent 30-min TV interview from March, where he mentions he thinks the world is heading for a depression
- Rogers waiting to short US Treasuries - again
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