Global Risks and Untapped Prospects – Jim Rogers

Published on
September 20th, 2017
64 minutes

Global Risks and Untapped Prospects – Jim Rogers

The Interview ·
Featuring Jim Rogers

Published on: September 20th, 2017 • Duration: 64 minutes

Legendary independent Investor, Jim Rogers, joins Steve Diggle, to talk about his career and how he sees the world now. Jim outlines the dangers of easy investing and his concerns over the potential for a major correction in financial markets. He also identifies the sectors and countries that he’s bullish on, with some incredible insight into how his life experiences have shaped his world view. Filmed on September 14, 2017, in Singapore.


  • NI
    Nate I.
    6 May 2019 @ 18:42
    Such a great interview. Can't thank Jim and Steve enough for this one.
  • TR
    Thomas R.
    21 September 2017 @ 01:13
    First of all – really appreciated the interview. The one question I have relates to timing and buying when “everyone” hates something. I’ll go to the comments on Gold and my interpretation of the comments to be that there perhaps needs to be a time when even the “true believers” get discouraged and sell and then that’s the time to buy. Unless there is some other rationale or formula I don’t know about, the only reason price on goes up on anything is there are more buyers than sellers and the only reason price goes down is there are more sellers than buyers. If that premise is true and buying when “everyone” hates something does conflict with the fact that in order for the price to go up there has to more buyers than sellers. If “everyone” hates something, then who is doing the buying? Isn’t the true measure of “hate” the financial media and the frenzy that gets created and literally not “everyone”? As noted in the interview, there does seem to be signs of distribution in the markets and lack of breadth on the upside, so some form of correction/downturn does appear to be eminent. It is just a question of timing. The major money in the market must enter and exit positions over time and not all at once. Isn’t that what we are starting to see? Isn’t distribution the basic signs of major money starting to take profits and re-allocate?
    • DW
      Daniel W.
      21 September 2017 @ 10:41
      "If “everyone” hates something, then who is doing the buying?" Nobody, that is why the Price goes down. Is think the Basic theory is as simple as that.
    • MO
      Munachi O.
      21 September 2017 @ 17:48
      If everyone hates something and the price goes down, if the asset value is sound, returns will speak for themselves and then it's a case of buy and hold till market sentiment turns
    • PS
      Patrick S.
      21 September 2017 @ 18:19
      judging by his bets on gold he doesnt seem to own anything other than a couple (via director positions) bets on very large deposits, sort of like an insurance policy if the metal ever goes up substantially. Take a look at spanish mountain Gold ticker SPA on toronto venture for example he owns 1.5 million shares of that, thats only about $150,000 worth but if it works it will 10x+ I think that's the nature of most of his investments they are either complete write offs or they pay out 10x-50x or more to pay for all the loses and being early in some cases many years
    • CR
      Cristian R.
      3 May 2018 @ 12:34
      It's not about the number of buyers or sellers, necessarily the volumes must ALWAYS match. The question is which side is the most eager?
  • RM
    Ron M.
    21 September 2017 @ 17:50
    It's interesting that the old guard (Howard Marks, Jim Rogers) doesn't fully appreciate the new world tech. With blockchain/cryptos, the Internet will add a layer of trust/value which can help not only with money (payments, remittance, store of value, cross border payments), but also with identity, M2M, shared computing, escrow, insurance, healthcare, prediction markets, voting, equity ownership, venture capital, etc... the "digitization of assets" (Martin Green). It will take decades and we need to get through this ICO insanity, but this is gonna be yuge!
    • bm
      brian m.
      15 October 2017 @ 07:39
      I reckon so..He missed bitcoin but I think he also underestimates the innovations in fracking and mechanised farming
    • CR
      Cristian R.
      3 May 2018 @ 12:30
      Always be careful with new technology. Yes it's exciting, but who will actually reap the rewards? Air travel is amazing, but airlines are a terrible investment.
  • WM
    Will M.
    28 December 2017 @ 20:15
    On 26 year olds in a bull market..... "they know it cannot end and will never end". I think this probably also applies to 36 year olds and many 46 year olds as well. Now for the 50 and 60 year olds they can see retirement or loss of job coming so they are desperate to gamble for returns. This market seems hated but continues on and on and on..... I think Jim has got the measure of life and the markets. He is laid back and the opposite of Hugh Hendry on hubris.
  • AW
    Anak W.
    4 December 2017 @ 20:03
    This man is such a legend. you can tell from the way he talks there is no worry, no fear. Seem to me that all these crazy stuff we are seeing is just "another one of those" to him. LEGEND.
  • JD
    Joe D.
    1 December 2017 @ 19:59
    Lot's of actionable information, and didn't have to research any acronyms for this one.
  • DP
    David P.
    22 September 2017 @ 07:38
    Australian market graphene companies for those interested: TLG (i don't own anymore), FGR (i do). It has an interesting potential but it is important to do your homework to understand it (similarly to cryptocurrencies).
    • DH
      Dale H.
      25 November 2017 @ 08:40
    • DH
      Dale H.
      25 November 2017 @ 08:40
    • DH
      Dale H.
      25 November 2017 @ 08:55
      I’d need to do a lot of Research. Pricey.......
  • DH
    Dale H.
    25 November 2017 @ 08:33
    Firstly, a big thank you to Steve for one of the best interviews I’ve seen. Clear concise questions, tracking the conversation, good material added in questions and good summing up. I love listening to Jim. Intriguing, thoughtful challenging and funny. He is an individual certainly - one who gets me thinking and evaluating. It’s great being lazy too - I suspect Jim gets quite a lot of insights when being ‘lazy’.
  • MN
    Mark N.
    21 October 2017 @ 22:27
    Love love love Jim Rogers. He thinks the way I do, always giving me hope of actioning my own ideas and creating a more expansive existence. Didn't think a lot of the interviewer though.
  • bm
    brian m.
    15 October 2017 @ 07:35
    Its hard to criticise Mr Rogers as he often points out how unknowable the market is in the short term..His calls on gold (although seemingly unchanging)have been masterful...Phosagro ,Spanish mountain gold, Mason Graphite have been amazing performers over the last few years..But bear in mind he is always early and I suspect he will be early about the next crisis...But he will look very wise from 2026 looking back
  • AP
    Alfonso P.
    22 September 2017 @ 21:50
    repetitive, boring, deja vu, but the most asertive, enjoyable , fantastic humblei interview, excellent piece, thanks Jim
    • DC
      D C.
      13 October 2017 @ 19:28
      Jumbo shrimp
  • BP
    Besar P.
    8 October 2017 @ 13:55
    On the next interview with Jim, please check ahead on the color of the shirts you guys will wear in the interview. Otherwise, its always interesting to hear Jim's contrarian thinking and ideas. Key points I got: it never is different, and bear markets are not a thing of the past. Excellent interview and thanks.
  • nR
    niall R.
    8 October 2017 @ 11:17
    Great interview, and took away the importance of the very fundamentals. Double bubble for value with Mr Diggle too!
  • AE
    Alex E.
    29 September 2017 @ 03:36
    Late to the conversation, but, want to throw my 2 cents in. First , congrats to Mr. Diggle. A good interview. More, Please. As to Mr. Rogers, nothing to say that the man hasn't already said. Prudent to keep dry powder and play with small sums. Mr. Roger's advise on contrarian plays would work, how you play is up to you! Again, wise words in "This time , it's different" will get you slaughtered is so appropo! Thanks, RVTV for a great interview!
  • jh
    john h.
    27 September 2017 @ 23:46
    "the most dangerous words in the investing world to hear are its different this time". Fiat currency will fail, just like it has every other time in history. "its different this time, the dollar will last" ;) Gogoldgo
  • JL
    Jacob L.
    22 September 2017 @ 09:47
    Can someone tell me what Jim Rogers doesn't own? :D
    • RM
      Ritamarie M.
      26 September 2017 @ 02:28
      He doesn't own Ukraine
    • fc
      frank c.
      26 September 2017 @ 18:56
      and Mongolia
  • AC
    Andrew C.
    25 September 2017 @ 03:18
    Sorry, it doesn't make sense for me not to check facts and to confirm what some people are saying. Total respect for his track record, but I am trying to understand where the market is now. If -as it appears- many people are saying this bull is finished based on wrong "facts", Hugh Hendry is probably right. The bull still has a ways to go particularly as there apparently is a lot of cash still sitting on the sidelines.
  • AH
    Andreas H.
    24 September 2017 @ 11:30
    beeing early and beeing wrong is the same thing, no matter long or short, especially if you wipe out your account. Just love it how shorts twist this all the time... Jim made his money by holding on positions for ever and having a good nose for long term trends (like china), great investor and great interview...
  • DR
    David R.
    23 September 2017 @ 16:38
    To everyone fact checking Jim and talking that twitter talk, one little nugget for you: Jim's been living off his chip stack for longer than you've probably been alive. That's the only record that matters.
  • BW
    B. W.
    23 September 2017 @ 04:50
    In prior post, had a typo: entered "500day MA", instead of "50-day MA". Info otherwise accurate.
  • BW
    B. W.
    23 September 2017 @ 04:49
    Really terrific interview... Just for the whole pesky "fact" thing, there are currently 280 S$P 500 stocks trading above their 500day MA, instead of "45-50" as Jim reports it. No disrespect. Total fan. Just a bit off on that one. When I heard him say it, I did a pigeon triple-take and had to check my own scans. So just wanted to post this in case anyone else had the same brain hiccup. FWIW, the only time in the past half-decade that this number was at the 10%-ish level (50 stocks) was in late August 2015 when we had that crashy move on the China deval ahead of the energy bk's. Here's a good spot to see this data point:
  • DO
    Donna O.
    23 September 2017 @ 00:09
  • RM
    Robert M.
    20 September 2017 @ 16:08
    Love to hear ideas on best way to invest in agriculture outside of buying land. Fertilizer companies, commodity ETFs, etc?
    • pv
      peggy v.
      22 September 2017 @ 20:29
      Rogers ETN Ag Index maybe worth exploring.
  • AC
    Andrew C.
    22 September 2017 @ 09:03
    At 52mins left, he says only ~40-to-45 stocks of the SP500 are above their 50dayMA - that’s less than 10%. I call BS. As viewed on, the number is 70.40% (symbol:$SPXA200R). Also, 23 of the 30 DOW stocks are above their 50dayMA (symbol: $DOWA50). Also, 66.05% of NYSE stocks are above 50dayMA (symbol:$NYA50R), 64.14% are above 200dayMA (symbol:$NYA200R). Check it out your self:
    • AC
      Andrew C.
      22 September 2017 @ 09:09
      "Facts are wonderful". Trying to be humble here, can somebody prove the facts listed above wrong?
  • AB
    Andrew B.
    22 September 2017 @ 08:11
    Rogers gets the Russian sanctions in a twist. Surprising. Russia, as counter measures to sancations over Crimea, self-imposed 'no food imports' from Europe and America. These are self imposed import bans.
  • JH
    Jesse H.
    21 September 2017 @ 23:07
    Very enjoyable interview, and gotta love Diggle as an interviewer. He is reflective and a very good listener, similar to Grant Williams. Brilliant choice of interviewer (and, of course, interviewee : ).
  • tW
    tgwtom W.
    21 September 2017 @ 19:25
    Not bad for a couple of 'unemployables' :) ...also, a small message, but one I need to hear, is not to assume that everyone else is smarter than you.
  • SS
    Steven S.
    21 September 2017 @ 19:01
    Jim Rogers is dependable to stay on message. Jim is always short on American Hubris...which is refreshing to hear. IF only he was the voice of US Foreign Policy.....Humble and kind - too bad his warnings will not be heard in time.
  • JD
    John D.
    21 September 2017 @ 18:48
    Thanks for such a great interview Steve ... If the guys at RV could pass this on to you, I'd highly recommend Rowley Shoals, in the Indian Ocean, as an amazing dive location for your next adventure (national geographic quality). Cheers John.
  • SH
    Steve H.
    20 September 2017 @ 16:54
    Sorry, but I find his interviews/podcasts over the last several years useless. Same old, "Aw, shucks, I'm a horrible trader...lazy...I'll probably lose everything " comments. Same old comments regarding Russia, agriculture etc....Graphene? I've been reading about that for years now. IMO - Read his books if you want to know more about his knowledge.
    • DC
      D C.
      20 September 2017 @ 21:37
      Agreed...even he admitted that Quantum was a long time ago. What's his batting average in the last X number of years? He is clearly just playing with house money, so he can be wrong for the last 30 years, and still be ok. Unlike Buffett, he is still doing it. We can at least measure the validity of his opinions with BRK.
    • JS
      John S.
      20 September 2017 @ 22:51
      Agree - rarely an substance in Rogers' interviews. Just banalities like 'I hope I'm smart enough to buy gold if the price goes down'.
    • CS
      C S.
      21 September 2017 @ 11:22
      Wisdom is never readily imbibed by the young. Repetitive, boring, isnt it? Like old Turkey in Reminisces of a Stock Operator. You'll understand the value of this interview (and all the similar ones you refer to), someday. ;)
    • JL
      J L.
      21 September 2017 @ 16:51
      haha it's a bull market you know!
    • PS
      Patrick S.
      21 September 2017 @ 18:26
      guys you guys are answering your own questions, that's the key being able to withstand being wrong for 10 years to be right that one time that will payout it takes genius and skill to formulate that kind of return. Everyone is looking for returns 6 months out, a year out, no one has long time frames anymore that's why the market is broken. Take a look at Jim Rogers holdings for example in gold he is director (shareholder) via either equity or options in a number of gold juniors... just deposits in the ground nothing more... for example Spanish Mountain Gold in Canada... 10 moz just sit on it in his words "forever" it's just an insurance policy if it pays out 30x... if not oops there goes $150,000-$300,000 rinse and repeat I think he is master of optionality plays and all it takes is one jackpot every 10 years and he can live and raise his kids in Singapore... I think the people complaining about this interview being terrible are the traders and guys with a short term view. Ya want instant gratification go buy Bitcoin today and tell me if you made money tomorrow.
  • MO
    Munachi O.
    21 September 2017 @ 17:42
    Among so many other insights, it appears that whenever he makes an equity investment he makes sure he's on the Board. A very wise decision in the emerging markets he operates in.
  • SB
    Sam B.
    21 September 2017 @ 17:18
    What makes Jim worth listening to isn't that he has so many new ideas, but that he beats the same things home and is always a good reminder to stay humble and think independently !
  • RA
    Robert A.
    21 September 2017 @ 16:42
    What I really like about RV TV is it's "Balance"....we get Red Meat, esoteric Red Meat and simple Wisdom in varying portions. Candidly, I have found little actionable Red Meat from Jim's interviews personally but never tire of the Wisdom. Hubris has ruined more good men than hard drugs or AIDS. Great job by the interviewer on this one, IMO.
  • kj
    kelly j.
    21 September 2017 @ 15:20
  • JM
    Jared M.
    21 September 2017 @ 14:37
    Humble, simple, brilliant! It's no wonder why his returns are amazing
  • DY
    Damian Y.
    21 September 2017 @ 12:34
    Thanks Steve, you did a great job interviewing Jim, well done. Jim is the best.
  • TE
    Tito E.
    21 September 2017 @ 10:55
    Alot of Jim's interviews do sound similar but i always listen and always somehow come away with something. Concur with comment below about Diggle being a quality interviewer.
  • EL
    Edward L.
    21 September 2017 @ 10:24
    Jim is a brilliant pedagogue who reminds me of the millionaire farmer who wears torn jeans and drives an old car yet distributes wisdom in a completely self-effacing manner. Great interview..
  • JV
    Jason V.
    21 September 2017 @ 07:35
    The Sage of Singapore! That was an education. That was also a delight and privilege to watch. Having Steve interview Jim was a stroke of genius. Thank you gentlemen. Hats off to you both.
  • TJ
    Terry J.
    20 September 2017 @ 14:56
    Always an absloute privilege to listen to the thoughts of this timeless investment legend! Delivered with humility, with some invaluable advice to all twenty six year olds, and the rest of us! Most interesting to hear his views on every key asset class, and especially on gold. A gem of an interview!
    • LA
      Linda A.
      21 September 2017 @ 04:43
      Couldn't have said it better than u!
  • LA
    Linda A.
    21 September 2017 @ 04:42
    LOL- Jim's comment on his 1st wife being a mistake & SD not knowing how to respond to that. Great job SD as the interviewer! Love Jim Rogers- so down to earth, intelligent & humble. I am worried too as these central banks put the pedal to the metal. How is it that they were allowed to print trillions, give it to banks & lend it out & collect interest on it? Just criminal what they are able to get away with. Such disgust for these people- stealing from retirees, distorting mkts & ultimately it is us taxpayers once again who will suffer the dire consequences.
  • PS
    Patrick S.
    21 September 2017 @ 03:14
    he is a director in Spanish Mountain Gold SPA which has about 10m oz of gold in the ground... I guess that's one of many bets on gold.
  • LP
    Lawrence P.
    21 September 2017 @ 02:11
    One of the most insightful interviews yet. Thanks steve and jim!
  • GW
    Grant W. | Founder
    20 September 2017 @ 15:19
    An absolutely fantastic conversation brilliantly steered by Steve Diggle. Kudos to you both - thanks for your time and insight gentlemen
    • PD
      Peter D.
      21 September 2017 @ 01:46
      Agreed. It really should not be surprising that Jim repeats and recalls many themes....he is after all a secular investor. In fact a lot of these older guys, who have been through or warned of rough stuff (Robert Prechter, Ian Gordon etc....) are retiring or dying off. As such Jim's opinions, and those of his ilk, are more important than ever. The rest of the week we can watch CNBC's Top Ten. Time will tell who is right.
  • HJ
    Harry J.
    20 September 2017 @ 22:39
    I share jims views so i go to cash and short term treas. How will that work out if his forcast of a major downturn playsout??? Gold seems to be only place to peserve wealth that the gov cant take away
    • js
      jacob s.
      21 September 2017 @ 00:55
      the gov can still seize the gold
    • gh
      g h.
      21 September 2017 @ 01:19
      They (USA) have always paid for it... at least so far.
  • CB
    Clinton B.
    21 September 2017 @ 00:41
    Great to hear Jim.
  • JS
    John S.
    20 September 2017 @ 22:52
    Would like to see more Diggle as interviewer
  • HU
    Henry U.
    20 September 2017 @ 22:35
    Jim is making making wonder about my first marriage which is still undergoing.
  • BS
    Bruce S.
    20 September 2017 @ 20:30
    Many, including me, are very concerned about the excessive market valuations. Getting "prepared" for the correction sounds simple but it means sacrificing returns and paying hedging costs. Clients do not like under performance! please tell me when we are the top . That's all I want to know.
  • SB
    Stewart B.
    20 September 2017 @ 20:02
    Great interview. He is so humble. I like his thoughts on agriculture and graphene.
  • RP
    Roberto P.
    20 September 2017 @ 19:49
    Nothing really new. Very similar to the last interview.
  • TM
    Thais M.
    20 September 2017 @ 18:23
    Love Love Love it. Thanks so much
  • RD
    Ryan D.
    20 September 2017 @ 16:51
    Thanks Realvision & Steve Diggle for the awesome access. Great to hear Mr. Rogers view and experienced perspective. Maybe Steve can get 'the young guy who works for him thats got this all figured out' on for a RV Think Piece.
  • rr
    rlw r.
    20 September 2017 @ 16:22
    Thanks Steve very well done, Jim seemed more relaxed perhaps moreso than other times. And to our benefit resulting in many great thought gems.
  • AD
    Anton D.
    20 September 2017 @ 15:57
    Love Jim's commentary, but his 'changed Kremlin' thesis is dead wrong, in my opinion. Corrupt clique of Pres. making mega wealth (with few ways to legitimise it). Corp governance is a joke, banks are busting and getting nationalised, where is the good news, Propaganda Jim?
  • JL
    J L.
    20 September 2017 @ 15:46
    Glad to hear Jim mention stocks outside ETFs, Rick Rule has talked about big discounts in some mining stocks of that sort, in particular his targeting of the ones that are ready to "make it" into a large ETF should the sector grow. I get an odd feeling thinking that the pros will sell the big stocks to you at a premium but not take them off your hands until priced closer to the minor ones...
  • IH
    Iain H.
    20 September 2017 @ 15:45
    RV does it again, another cracking insight to a world class investor.
  • RM
    Robert M.
    20 September 2017 @ 15:39
    Always like to hear from Jim. He has a humble approach to markets and thinks long term.
  • FC
    Fractal C.
    20 September 2017 @ 15:29
    Jim, as of now, 68% of stocks in S & P are above their 50 day moving average. However, I do get your point about overall leadership of stocks being narrow in this bull run. Thank you
  • V!
    Volatimothy !.
    20 September 2017 @ 15:27
    RV could start a Jim Rogers channel and I'd be first in line. I always pick up ideas. People worry too much about a specific trades as opposed to the knowledge. Enough about gold! I didn't like how Jim threw Diggle a bone (in my opinion, when he said he owns things because others do), and he didn't bite.
  • RM
    Richard M.
    20 September 2017 @ 15:06
    enjoy his candid realistic observations
  • MS
    Maxwell S.
    20 September 2017 @ 14:58
    Two highlights I took away are his pure independent thought process, and his knowledge of himself about his laziness.
  • EH
    Eric H.
    20 September 2017 @ 13:39
    always great to get Jim on and learn from his years of experience!