are you feeling the pinch

[TaoJones]

Originally Posted by muskoka

Jim Rogers now says he is completely out of the US market.

In his remarks to the ABN Amro Markets investors' meeting in Amsterdam last October 23rd, Jim Rogers said, "I'm in the process of - I hope in the next few months - getting all of my assets out of U.S. dollars. I'm that pessimistic about what's happening in the U.S.'' He is, though, very much "in the markets."

Jim Rogers was probably the first serious investor to foresee the coming bull market in commodities back in 1999, and publicly proclaim its imminent arrival. If readers here aren't familiar with the gentleman, they would do themselves a favor by learning more about him.

He's actually a "cruiser," at heart, in my opinion. Any man whose c.v. reads as Jim Rogers' does is a kindred spirit to many of the members here at CF.

After guiding the Quantum Fund, which he co-founded with George Soros, Rogers undertook an epic journey through some of the most unlikely countries with his then-girlfriend, aboard motorcycles. The details of that 100,000 mile journey across six continents (1990-1992) can be found in his book Investment Biker.

Then, from January 1, 1999 to May 1, 2002, he trumped that journey by undertaking a 245,000-mile around-the-world trip in a customized Mercedes-Benz with his fiancee (now wife) Paige Parker. His book Adventure Capitalist recounts their unique trip.

Jim Rogers is one of the most intelligent people in the world of finance and investment.

And it's interesting, too, to see Warren Buffet brought up in this thread. I imagine most literate people with an interest in investing have heard of him. But I'll bet that not one in a hundred is familiar with Charlie Munger, the man Buffet has called his investing "partner."

Jim Rogers, Warren Buffet and Charlie Munger. Fascinating people, all.

TaoJones

[seafox]

Buffet refers to Charlie all the time in his End of Year reports.

Originally Posted by TaoJones

In his remarks to the ABN Amro Markets investors' meeting in Amsterdam last October 23rd, Jim Rogers said, "I'm in the process of - I hope in the next few months - getting all of my assets out of U.S. dollars. I'm that pessimistic about what's happening in the U.S.'' He is, though, very much "in the markets."

Jim Rogers was probably the first serious investor to foresee the coming bull market in commodities back in 1999, and publicly proclaim its imminent arrival. If readers here aren't familiar with the gentleman, they would do themselves a favor by learning more about him.

He's actually a "cruiser," at heart, in my opinion. Any man whose c.v. reads as Jim Rogers' does is a kindred spirit to many of the members here at CF.

After guiding the Quantum Fund, which he co-founded with George Soros, Rogers undertook an epic journey through some of the most unlikely countries with his then-girlfriend, aboard motorcycles. The details of that 100,000 mile journey across six continents (1990-1992) can be found in his book Investment Biker.

Then, from January 1, 1999 to May 1, 2002, he trumped that journey by undertaking a 245,000-mile around-the-world trip in a customized Mercedes-Benz with his fiancee (now wife) Paige Parker. His book Adventure Capitalist recounts their unique trip.

Jim Rogers is one of the most intelligent people in the world of finance and investment.

And it's interesting, too, to see Warren Buffet brought up in this thread. I imagine most literate people with an interest in investing have heard of him. But I'll bet that not one in a hundred is familiar with Charlie Munger, the man Buffet has called his investing "partner."

Jim Rogers, Warren Buffet and Charlie Munger. Fascinating people, all.

TaoJones

[TaoJones]

Originally Posted by seafox

Buffet refers to Charlie all the time in his End of Year reports.

Yes, he does, however the number of people on the mailing list for the Berkshire Hathaway Annual Report is vanishingly small, given that BRK/A closed last week at $139,100/share. And, in my experience, most people who receive annual reports never read them.

What has become legendary, though, are Buffet's appearances at the annual shareholder's meetings. Perhaps that is what you're referring to. And though Buffet certainly acknowledges Munger's importance, there's no question that, in the eyes of the investing public, Buffet is the star and Munger carries the luggage.

TaoJones

[Troutbridge]

Well, all very interesting. Philip, I'm casting off in May, as planned. Boat paid for and I will be debt free when I leave. Not as much money as I had a month or so ago, I was hoping to have an income of £1000 per month, now maybe £6/700 per month. I could stay and work for another year, but the thing is however much I earn I cannot buy that year back. I'll have to tighten my belt when cruising, change my route plans a bit, spending more time in areas where I can anchor, but I'm still going.
I'm sceptical when I read of people living on the equivalent of £200 per month (what about maintenance/insurance etc) but on the other hand it's easy to fall into the trap of "just another 10K & I'll have enough to go". I feel really sorry for the forumite who just lost his daughter, my girl is 23 and I can't imagine what it would be like. My Grandparents lost their daughter (my mother) so I have seen parent's pain at first hand. On balance, no matter how much money you have, you can't buy back time. I'm with those who say go now and worry about the future when it arrives. I hope your wife's op is successful, enjoy whatever road you decide to travel.

[Zach]

Originally Posted by MarkJ

The 20 year old guy on this board who owns his own yacht (prolly doesnt read this financial thread!!!) should just go now and see what happens.
its up to us old duffers to shove the young people on their way.

All that being said, any money invested helps.


Mark

He just might read this stuff...

[MarkJ]

Originally Posted by Zach

He just might read this stuff...

Good on you, Zach I was just checking


Mark

[sharkbait]

For us common wage earners a recession comes as a blessing.When my layoff comes I'll be able to begin collecting unemployment benefits,$424/wk,while lounging on my boat somewhere south of Ensenada

[muskoka]

Originally Posted by TaoJones

Yes, he does, however the number of people on the mailing list for the Berkshire Hathaway Annual Report is vanishingly small, given that BRK/A closed last week at $139,100/share. And, in my experience, most people who receive annual reports never read them.

What has become legendary, though, are Buffet's appearances at the annual shareholder's meetings. Perhaps that is what you're referring to. And though Buffet certainly acknowledges Munger's importance, there's no question that, in the eyes of the investing public, Buffet is the star and Munger carries the luggage.

TaoJones

For those who aren't shareholders, I think you may be able to download Buffett's letter from the company website. I highly recommend that any investor read this as it gives a fantastic overview of US & world economic prospects from the worlds best investor. Buffett & Munger's insights are pithy, witty and presented without hyperbole.

Cheers

[GordMay]

Originally Posted by muskoka

For those who aren't shareholders, I think you may be able to download Buffett's letter from the company website...

BERKSHIRE HATHAWAY INC. SHAREHOLDER LETTERS (1977 - 2006)
The last Buffet letter listed here was for 2006, published February 28, 2007
Goto:
http://www.berkshirehathaway.com/letters/letters.html

[MarkJ]

Look, I don't mean to be stupid about it but Buffet just bought 3% of some company (I gave you the link below) wouldn't you, if you had a few $ to invest go buy that company?

What more do you need? Not the advice of ther second richest man in history but what he is doing now.

[muskoka]

I already have - I own Berkshire Hathaway stock so I got in before it even hit the newspapers. :-)

[MarkJ]

Originally Posted by muskoka

I already have - I own Berkshire Hathaway stock so I got in before it even hit the newspapers. :-)

I wasnt talkin about you! I was talkin about other investors who are a bit scared. Put your money where the big bucks go. You will see it in the newspapers, so just wait and follow. I've been doing it with Kerry Packer for years

[MarkJ]

Originally Posted by MarkJ

I wasnt talkin about you!

Re-reading that line it sounds a bit rude. Sorry about that, Muskoka, it was meant to mean that I realise you know about this stuff. The damn words won't quite form into a sentence I want! LOL
Anyway, I hope you didn't read it as being rude

(If we could edit posts thats one that would get the chop! )

Mark

[TaoJones]

Originally Posted by muskoka

I already have - I own Berkshire Hathaway stock so I got in before it even hit the newspapers. :-)

I don't see an icon representing a "tip of the hat," muskoka, so I'll just say it, "Well done!"

TaoJones

[muskoka]

Originally Posted by MarkJ

Re-reading that line it sounds a bit rude. Sorry about that, Muskoka, it was meant to mean that I realise you know about this stuff. The damn words won't quite form into a sentence I want! LOL
Anyway, I hope you didn't read it as being rude

(If we could edit posts thats one that would get the chop! )

Mark

No problem Mark - I didn't take it as rude. My view is that it's good to share ideas about investing.

Thanks Tao, but the hat tip rightfully belongs to Mr. B. All I did was hitch a ride!!