Beyond Frontier Markets – Extreme Investing with Jim Rogers

Featuring Jim Rogers

Investing legend Jim Rogers sets out his own view of the investment landscape, seemingly breaking every rule in the book, as he identifies the opportunities beyond frontier markets that you certainly haven’t considered before, while closer to home, the prognosis for the US economy is a bear market and bankruptcy. Compelling viewing.

Published on
26 August, 2016
Topic
Global Investment, Frontier Markets, Global Outlook
Duration
49 minutes
Asset class
Commodities, Equities, Currencies
Rating
82

Comments

  • LQ

    Leslie Q.

    6 10 2017 08:57

    1       0

    Wow what an insightful masterclass from Jim Rogers and his farsighted wisdom. Thank you Real Vision, looking forward to more.

  • AV

    Arthur V.

    30 8 2017 06:24

    2       0

    the lessons of history is that nobody learns the lessons of history
    -jim rogers
    24th min

  • TD

    Thomas D.

    21 8 2017 16:43

    0       0

    I like him but kind of funny "short US, look to north korea" then US has a huge rally and North Korea nuclear war issues. Perhaps he's early on this one

  • PM

    Patrick M.

    13 6 2017 19:30

    1       0

    pimp cup sighting...

  • cg

    chris g.

    9 5 2017 00:42

    0       0

    Great insight

  • jc

    jeff c.

    16 1 2017 03:22

    2       0

    Just great to see a 4 digit thumbs up

  • AH

    Aaron H.

    2 1 2017 22:42

    1       0

    What a gem... one of my favorite interviews.

  • DY

    Damian Y.

    22 12 2016 11:49

    1       0

    Jim is a wonderful man

  • hp

    hun p.

    31 10 2016 00:21

    3       0

    If you think about Kim Jong Un, you're just waiting for North Korea to fail. You know they're going to fail.

    But when you think about the possibility that his sister may actually be the one calling all the shots, you might say, oh shit, or what?

    They've killed senior officials, even family members of the old regime that probably didn't want to change.

    Then you think about their allies, China and Russia, who look like their prospects and reforms are becoming investable to the rest of the world, something foreign to our nation because of our politicians that don't do anything.

    Then you think about South Korea having capital and a debt to GDP ratio of around 34-40% that might be able to absorb unification costs.

    You think about South Korea's aging demographics that will start to become a bigger problem in 2018-2019; but then you think about the young population of North Korea, and you look at the natural resources they have.

    Japan and America might be like, oh shit, what if North Korea is like what China was in 1981? (Something Jim Rogers brought up). Then you also think about what's been happening with Vietnam.

    Then you think about the possibility that a woman may be calling the shots in North Korea, a massive change in a very old society, that is a big time reform.

    Unification could be like Germany when they knocked down the Berlin Wall. Just a thought and a possibility of what could happen. Especially if we default on our debt or cut costs to avoid defaulting.

    Will Asia and Eastern Europe become the new EU?

    Sorry for the long post.

  • JF

    John F.

    4 10 2016 04:08

    0       0

    Great interview. Jim had wisdom even when he was young. As for the rest of us, we grow old to soon and too late smart. If you want to understand more about England's attitude toward Brexit, read: The End of Alchemy by Mervyn King former governor of the Bank of England.

  • MR

    Mark R.

    23 9 2016 23:31

    1       0

    R . I . N . K . R countries, obviously!!!! crikey ......

  • PB

    Peter B.

    20 9 2016 00:41

    0       0

    Awesome interview

  • js

    jacob s.

    15 9 2016 05:25

    1       0

    Of course he has a silver cup.

  • BG

    Brandon G.

    13 9 2016 03:59

    8       1

    What a fantastic interview. You guys need to see if you can round up Druckenmiller.

  • DK

    David K.

    7 9 2016 22:28

    0       0

    Thanks, always enjoy hearing Jim Rogers.

  • DP

    Daniel P.

    5 9 2016 21:07

    0       0

    Awesome, really excellent. Thank you again guys!

  • NL

    Nikita L.

    3 9 2016 18:55

    1       1

    One of the best interviews on RVTV. THANKS GRANT AND JIM

  • lD

    lance D.

    31 8 2016 12:11

    2       0

    Do Scotland own the oil ? i thought it was sold of to bp and others..... if they don't own any they can not take it with them ?

  • NS

    Niek S.

    30 8 2016 18:55

    2       0

    10 years from now you will think back to this interview and think 'damn this guy was right'. Brilliant interview!! Loved every second of it!!

  • TT

    Teodor T.

    30 8 2016 14:46

    2       0

    Beside genious investor, this guys is delighful!

  • ML

    Myra L.

    30 8 2016 06:51

    0       0

    Really great!

  • FR

    Fields R.

    29 8 2016 22:35

    1       0

    Masterful and difficult interview, Grant. I like his contrarian view.

  • JF

    Jonathan F.

    29 8 2016 21:40

    2       0

    James M. - If you include both Koreas, you can call it KRRuNK... 'krunk' or 'krank'? Add Zimbabwe for KNoKRRZ 'knockerz' or KRRuNKZ 'krunkz'.

    So it's not an easy one.

  • JL

    Jacob L.

    29 8 2016 10:09

    9       1

    Russia has a good deal of brain power but apart from that nothing is moving in the right direction and hasn't for many, many years. No international brands come out of the country, terrible and rapidly declining demographics, STILL one of the most corrupt countries on the planet, a political system that does not push toward reforms nor towards independence from oil. Unless the oil price goes higher we will have a war at some point because Putin will not be able to hold on to power without diverting attention.

    It is incomprehensible to me how Jim Rogers can be bullish on this country. Low PE's would be an argument, but that is not even what he is saying. He is saying the country is a sound one, which it clearly is not.

    It would make more sense to listen to him if he were able to mention the other side of the coin once in a while, but with him I get the sense it is all about contrarianism but without the inclination for deeper research. He actually, strangely, admits as much many times in this interview.

    I can also wonder whether being in the news is more important to him than being right. Many, many predictions he has made have been completely off not just for a year or two but for 10 year plus periods, which wouldn't be strange, markets are hard to predict, if he hadn't communicated them with such 100% conviction. Only change in this interview is a certain degree of humility ("I could be wrong") which I haven't seen before.

  • KS

    Kashyap S.

    29 8 2016 02:49

    9       0

    @Don, just because he didn't mention the miners doesn't mean he doesn't own them. He is on the board of at least one junior listed on the venture exchange.

    @Andreas, Jim is bullish about places where there is Value. You don't find value investing in the S&P 500 along with Vanguard and the closet indexing crowd. Just because an investment turns out great does not make it a great investment. It's all about risk/reward and position sizing. Jim has the best historical perspective on the markets in the entire financial community, having actually travelled the world twice by road. Whatever he says, these nuggets of wisdom shape serious investors in their youth and leave their mark on our investment process.

  • DJ

    Dario J.

    29 8 2016 01:55

    7       0

    The problem is always the timing, don't look at the present, it can reverse very quickly in a short period of time. That's why you should diversify a little in cheap places like Russia, North Korea, Rwanda, Iran. Ok, I've got that, but how would you do it?
    Thanks Jim and Grant for this wonderful interview!

  • RP

    Ron P.

    28 8 2016 23:34

    1       4

    I like Jim Rogers. He seemed a bit "off". I don't know maybe its just me

  • jm

    jim m.

    28 8 2016 23:23

    5       0

    Agree with Raouls comments on Rogers. One of the great investors of any time. His folksines belies brilliance. Rogers is a great value investor. Buy things you know about, and are cheap and wait. What is cheap today which we can all own. Cash! What currency. Who knows. In a world where the yen trades up on negative rates it is a mystery to me.

  • GW

    Grant W.

    28 8 2016 23:01

    34       0

    @andreas The essence of Real Vision is to try and help people become better investors through the wisdom and experience of others. Anytime anybody makes a forward-looking prediction, there is a huge element of guess work involved - particularly about the timing. We are trying to foster an environment where people can take the collective wisdom of people who have experienced the twin imposters of triumph and disaster and use it to fortify their own investment process. This isn't about being right or wrong but about intelligent debate and a willingness to own both outcomes. Not seeing an ATH in the S&P certainly doesn't diminish the credibility of any of the so-called 'bears' in my mind and I would hope that, given the quality of their thinking, others would feel similarly. We are grateful that they are willing to share so much with us and no matter what anybody says they expect to happen in the future, there is no guarantee they will be right. This is a very hard business and 51% sucess will, over the long-run, work out very well indeed. I'd rather understand HOW they think and then use that to develop my own process and hone my own skills. Just my 2c. Thanks for subscribing.

  • vt

    vadim t.

    28 8 2016 19:17

    6       7

    As to Russia the guy has no idea what he is talking about.
    Just completely ignorant. Maybe he'll find something out when he tries to realize his paper profit, maybe even earlier.

  • CH

    Calvin H.

    28 8 2016 18:39

    10       0

    @andreas I don't agree with your assertion that RVTV is not balanced (i,e only bearish). There are plenty of videos with smart people playing both the long and short term and also admitting where they got it wrong. I do agree with your proactive comment but frankly I think your missing the point of RVTV if you don't think that is what they provide. There is a difference between pro-activeness and the Charge of the Light Brigade and sometimes I am not sure which side I am on, especially with gold. :)

  • RP

    Raoul P.

    28 8 2016 14:38

    33       0

    @andreas Clearly, some of what you say is very correct but I think that the "experts" are suggesting that the balance of risk vs rewards is skewed to the downside here, that doesnt mean it has to go down but that the risks are higher than anticipated. They also could be dread wrong, as they were in 1999. Is the next 20% move likely to be lower or higher from here? Probably lower unless something changes. But it is also fair to say that there is too much emphasis on the Fed but people are mentally debating the unknowns and that is important.

    Most of the guys who are bearish now are not one trick ponies. Most have been doing this for multiple cycles. You can choose to dismiss that (we all need to use our own frameworks and there should be no judgement on that) but these investors are still valid in their views, right or wrong.

  • BY

    Brian Y.

    28 8 2016 14:07

    4       1

    Why is everyone so nervous (including Jim) about the record COT 'commercial' short positioning in gold? Just think what could happen if the 'commercials' can't contain this gold bull market - we would see an explosive move up in the price of gold. It will be interesting to see if the 'commercials' can hold back gold this time...

  • AH

    Andreas H.

    28 8 2016 13:44

    15       8

    If I would sit on a poker table, the reactions to the "Another Bear" comment would tell me a lot.
    95% of RV Experts are bearish since at least spring, summer 2015 on the SP500. Nobody, absolutely nobody said the sp500 will make an ATH in (a seasonally weak phase) summer 2016. I was short Dec. into Jan 2016. But @ the bottom it felt super bullish (outperforming IWM and Emerging Markets, Credit Spreads closing), my models went long and fortunately Stray Reflections (Jawad S. Mian) made the most sense to me and kept me in the trade.
    The majority of RV Experts bash and blame politics and tell us that the capitalist system has been rigged by the fed. More so, everybody seems to share this mindset. This mindset is “just too cool to resist”. This is “B-Game” and by far not an “A-Game” (positive thinking, concentrating on what you can influence etc.). It is a new game for everybody, let us make money of it!
    And this mindset feels to me arrogant too. There are not only academic idiots working at the fed, I think a lot of smart people work there. Same thing in politics, have a chat with the chief editor of the NY-Times, he will tell you that they did not find anything bad (and they research hard) with most politics. But it is just so cool to be short on politics.
    Hedge funds and we are not entitled to make money, yes we blame the fed that they change the game, but how about adapting to it?
    And: What is the point if everything is in the same camp? (By the way: The short side of the market is 10 times harder to invest / trade then being long (even gold!). Where are the riches of short sellers? Once again, has W.B. the best thinking framework?).
    Where is the advocate Advocatus Diaboli @RV? Why does nobody ask the question, what was wrong in our assumptions, our models to not see the ATH in SP500?

  • GA

    Greg A.

    28 8 2016 05:35

    6       0

    The silver goblet was fantastic Jim!!

  • PD

    Philip D.

    28 8 2016 01:16

    2       2

    @Grant You looked tired & sleepy mate! Assuming Jim drinks from a sliver cup (classy); he owns Silver possibly.

  • DH

    Dale H.

    28 8 2016 00:54

    6       0

    The interview was fun and very interesting. Unusual, and took me a while to get into it. Then I was hooked. Grant interviews a lot of people - his facial expressions made me sit up and take notice. They show a lot of warmth and respect. Hmmm yes; here is a guy who is free. Free to be humble, free to be wrong, free to be early and free to go anywhere and look in the strangest places. Very smart to, like some other people who might not always seem to be..... "The further one travels , the less one knows, therefore....." In listening to Jim, I remembered he wrote a book about life for his kids, now that could be fun, and maybe enlightening for a young fellow I know...

  • DV

    Dan V.

    28 8 2016 00:00

    3       0

    I wonder how to get exposure to private equity and property in north korea?..

  • DV

    Dan V.

    27 8 2016 23:59

    1       0

    I womder how to get exposute to orovate equity and property investment in north korea...

  • BE

    Baha E.

    27 8 2016 22:28

    1       1

    what a legend

  • LW

    Lukasz W.

    27 8 2016 21:42

    2       1

    I had a good laugh :)

  • CH

    Calvin H.

    27 8 2016 20:07

    3       0

    I've been a Roger's Fan boy for a decade. This was excellent. Loved the NorthKorea/Russia logic but was troubled that he could not recommend to others who are not in gold , to get some gold. Loved his snarky remarks about the 'Land of the Free'.

  • OM

    Omar M.

    27 8 2016 19:42

    1       1

    Wisdom . Great interview Grant and RV
    Thx👍

  • jh

    jim h.

    27 8 2016 18:01

    11       1

    this is the best interview with Jim Rogers. You asked good questions and just shut up and let him talk. His worldview is incredibly insightful. Thanks for sharing it with your viewers.

  • MM

    MZ M.

    27 8 2016 17:49

    2       0

    Thanks Jim and Grant! Can't wait until the next interview "Let's find something else thats really wierd" Lol Classic!

  • AB

    ARIEL B.

    27 8 2016 17:12

    2       2

    Great interview Grant. So much wisdom to take from this. Surprised you never asked one of the greatest macro investors of our time what he thought of US treasuries and European government bonds.

  • JH

    Jamie H.

    27 8 2016 16:01

    5       0

    Good to hear Jim say it how it is with Scotland and how much England needs Scotland's input.

  • db

    don b.

    27 8 2016 14:01

    3       3

    It's interesting how all these great investors missed the greatest opportunity I have seen in 30 years and that of course is PM miners. That is what is so great about being an investor in that you get to compete with the best people in the world. Markets don't care who you are it treats us all the same.

  • CL

    Chewy L.

    27 8 2016 12:49

    4       2

    Anything is possible but I highly doubt a Korean reunification is in the cards within the next 10 years.one possible way is for South Korea to wage war against the north and reunification ensues. How likely is that? Very very low methinks

  • RM

    Rainer M.

    27 8 2016 07:58

    5       0

    Great interview with Jim. Well done Grant. Just out of interest I wonder why you nor him mentioned LONG South African gold mining stocks denominated in ZAR. the Rand is truly unloved and the country is out of favour but has great gold and mining assets listed in ZAR on the Johannesburg Stock Exchange. For investors who like Physical GOLD, the traded gold Krugerrands on the JSE are both Physical gold and liquid on an exchange.

  • TM

    The-First-James M.

    27 8 2016 06:27

    4       0

    Regarding the acronym for Rwanda, North Korea and Russia, it's a shame that Australia - for understandable reasons given that I live there - has not been included, otherwise we could opt for RRANK. Best I can come up with is RRNK. Anybody got any better ideas? ;)

  • JA

    John A.

    27 8 2016 04:15

    16       0

    It amazes me how these interviews bring out the "Oh, just another bear" crowd. When, clearly Jim is LONG a great many things. Apparently free thinking produces cognitive dissonance.

  • CW

    Chad W.

    27 8 2016 04:02

    6       0

    "Influenced by nobody" Perfect Raoul. That's sums up what I love most about Jim Rogers. Great Interview.

  • KA

    Kevin A.

    27 8 2016 03:13

    5       0

    Probably no North Korean ETF... but a theory of Korean unification could make the currently accessible South Korean stocks a winner, and/or make the South Korean Won the cash to get into. Caveat... haven't looked at anything; Gov't debt, trade balance, GDP, or even a long term Won price chart... Just some idea from some guy on the internet!

  • BB

    Brian B.

    27 8 2016 00:00

    7       1

    What a legend! The best there has ever been on RV. He loves a pink shirt! Is there a North Korean ETF!

  • RP

    Raoul P.

    26 8 2016 22:27

    62       0

    Again, listen not to his trade ideas but how he thinks. He remains one of the best thinkers in the investment world, with the broadest range of knowledge that I have ever seen and influenced by nobody. He is an inspiration.

  • MA

    Mudassir A.

    26 8 2016 22:22

    8       1

    I've got something which is very weird, it's called Pakistan!

  • M.

    Milton ..

    26 8 2016 21:31

    16       0

    @Andreas He is "bearish" DM and "bullish" Frontier Markets/EM , I don't see the problem with that.

    Having an "open mind" doesn't make Demographics & Debt Leverage disappear. But I bloody wish it did.

  • AH

    Andreas H.

    26 8 2016 20:47

    26       10

    @Grant: Well, the greatest of all investors has never been a bear (W.B.)- I am not missing the point: All bells (opinions) are ringing for the bear case ("Sell everything"), that is just not typical for a top. I am through 1997, 1987, 2000, 2008, 2011, and the sentiment was always bullish right before the downturn and equity funds had inflows. The opposite is real right now! I just get very, very nervous, if we all have the same (bearish) opinion and there is no open (or not much open) discussion about the possibility of a bull case instead of a bear case. Sorry, just my two cent, my opinion: RV gets way too much unilaterally, bashing (for example the FED, politics etc.) instead of stressing an open mind. Its just too cool to be a bear right now for me to second think about it.

  • AH

    Andreas H.

    26 8 2016 20:17

    7       9

    Not only a short term gold bear, but a pessimist for the US Stock Market and the future of the US (bankrupt!). Optimist on North Korea. Hmmmm.

  • GW

    Grant W.

    26 8 2016 20:04

    44       2

    @andreas you're missing the point. Jim's not 'another bear'. He's another brilliantly smart investor who's bearish. Big difference.

  • AH

    Andreas H.

    26 8 2016 19:56

    1       14

    Another bear!

  • SD

    Salvatore D.

    26 8 2016 19:46

    14       0

    Thank you for this great interview and the lessons of history- real wealth is made in places where no one invests in. I admire Jim's courage and vision.

  • CD

    Charles D.

    26 8 2016 18:03

    14       0

    Dollar and gold can rise simoultaneously....as "safe havens"...flight to safety....Much different than consensus thinking.

  • SG

    Sebastian G.

    26 8 2016 16:13

    13       0

    Love this guy. Could listen days to Jim Rogers and Grant.

  • BV

    Bryan V.

    26 8 2016 15:56

    8       1

    You can't help but like Jim. Smart, worldly, and humble. I have been listening to him for awhile and he isn't joking about being early to the party. Having grown up in agriculture, I could have told him to hold his horses, but I still think he will be proven right, though it may not play out quite the way he thinks. If you follow his advice, be prepared to hold for the long term.

  • SM

    Sam M.

    26 8 2016 15:32

    17       0

    He's like the Santa Claus of the financial world, just drops bombs of gifts on you with his insights.

  • A1

    Animal 1.

    26 8 2016 15:18

    13       0

    Watched this interview instead of following the Jackson Hole coverage! Much better use of my time:) Really liked to hear the positive outlook on Colombia!!

  • NR

    Nuno R.

    26 8 2016 14:40

    6       2

    Jim Rogers investing in Rwanda after bumping by accident into a lady he knows from Rwanda, probably she also has a baby. (old school investing... i love it!); Thanks RVT for this great interview.

  • AA

    Ali A.

    26 8 2016 14:39

    25       1

    Next time you guys have the chance to chat would love to hear about how he manages a portfolio, position sizing, scaling etc

  • RE

    Rachel E.

    26 8 2016 14:30

    2       2

    Jim is the BEST.

  • CH

    Colin H.

    26 8 2016 12:43

    29       0

    Was that a silver goblet?

  • IH

    Iain H.

    26 8 2016 11:20

    4       1

    Simply Brilliant.

  • C.

    Capt.Hindsight ..

    26 8 2016 11:04

    14       2

    North Korea the next big opportunity = priceless