It is ironic that ~80% of his client's funds were in US backed mortgage notes in this particular Rogers International Raw Materials Fund LP and only about 3 - 6% were in open commodity futures positions in this latest filing http://www.secinfo.com/d14D5a.u5HUm.htm Net income is down about 40% and client withdrawal is markedly up year over year Code: 6 months ended 6/30/07 6 months ended 6/30/06 Partnersâ Capital at beginning of period $ 100,070,417 $ 108,221,418 Contributions â 205,622 Net income 4,130,886 6,683,066 Withdrawals (12,009,769 ) (2,235,707 ) Partnersâ Capital at end of period $ 92,191,534 $ 112,874,399 Per unit data 06/30/07 06/30/06 Net asset value $ 193.59 $ 202.09 Units outstanding 476,216 558,533
My understanding is that Rogers doesn't manage these funds. However, according to the statements from your link, the fund held 472 contracts of energy related futures. If, for example, those contracts were the size of the crude oil contract, 1000 barrels, and if we took the price of $70 as the value, then the total value of those contracts would be something on the order of $33 million. The total value of their notes is about $75 million. So while this may be 80% of the value of the fund, clearly it is margining futures contracts, because just in energy contracts we may have $33 million in market value, plus the outstanding metals and agricultural contracts. It's common for commodity traders to have their funds in interest bearing securities, and then use them as margin for the futures holdings. So when you make a statement that 82% of their money is in interest bearing securities, it really does not truly reflect the portfolio well at all. OldTrader
Just pointing out the irony of having so much of your asset in of all things US backed mortgage security..... unfortunately, it is the performance of the fund bearing his name that does not reflect the portfolio well at all.
There's nothing ironic about a commodity trader having assets in interest bearing securities to serve as margin. That's business as usual. And my guess is you check performance now. Big rallies in oil, grains, and metals since then. But again, Rogers doesn't manage. OldTrader
No, I guess there is nothing ironic at all about a person who said "Get out of the dollar, teach your children Chinese and buy as many commodities as you can." and then keeps 80% of of the funds in US backed mortgage security. Long live Jim Rogers, his funds that he doesn't manage and his Mandarin speaking daugher.
LOL. I guess when the facts don't fit your statements, you can simply say em one more time, and then throw in some emotionalism eh? Good day to you sir. OldTrader
Rogers is a total big mouthed a-hole who I'm quite confident is very over-rated. This clown has something to say about every thing. He acts like some sort of big sh...t because he invests in indonisian palm oil or whatever dribble is coming out of his mouth at the present. His alleged commodity fund likely makes its money by parking about 90% of the fund in T-bills which offset his trading losses. I'm just thankful that I havn't seen him on TV recently. I wish he'd stay in Africa so the uniformed public, and myself, wouldn't have to hear about this wretch anymore. Hey, here's a better idea. How about NASA sends Jim to Mars to do some commodity exploration for the gov't. What's that 2 yrs out and 2 back? That's a guananteed 4 years that we won't hear a word out of this blabber mouth. BTW - he probably got burned being short so now he's yaking his big trap about how the Fed got it all wrong. I got news for ya -- Jim is all wrong!!!!
Glad you were able to get that off your chest. I wouldn't let it disturb you as to whether you know what you're talking about...just babble away...it passes the time. Or better yet, maybe you and thrunner can get together and bullshit each other. OldTrader