Oct. 31 (Bloomberg) -- Jim Rogers, co-founder of the Quantum Hedge Fund with billionaire George Soros, boosted his bets against U.S. securities firms because of their salary ``excesses'' and money-losing investments. ``You see 29-year-olds on Wall Street making $10 million to $20 million a year, and they think it's normal,'' Rogers, 65, said in an interview in London today. ``There have been lots of excesses,'' said Rogers, chairman of Beeland Interests Inc. http://www.bloomberg.com/apps/news?pid=20601087&sid=aFtZT.ckIIV8&refer=home
Pot calling the kettle black. Rogers was 28 when he founded the Quantum fund in 1970. He was probably making that kind of money in his early thirties too.
Gee Whiz.. It is like 27 years ago from Soros and yet everytime I see an article about Jim Rogers I always also see..."co-founder of the Quantum Hedge Fund with billionaire George Soros" Hasn't he done anything spectacular on his own so we can stop hearing about his previous connection to Soros from almost 30 years ago?
This time I think Rogers is right both in direction and timing. My largest shorts are XLF and 2x short XLF long ETF SKF. I stupidly exited my Florida bank short BKUNA way too early.
Not to mention predicting the commodities boom and setting up a fund of appropriate commodities to benefit from it. Soros' latest "claim to fame" is moveon.org.
The cleaners on wall street will be earning those kinda numbers as a normal wage if they try and price their pay packet in Euro's or Cable in a few years time..... Nice Job Ben
Rogers admits he's the worst "trader"..but as an investor you can't deny what he has done. Hot Commodities...when did he write that 3yrs ago? He nailed it. Now his new book...Bull in China..I'd buy that before anything else.