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Street Smarts: Adventures on the Road and in the Markets

2014Jim Rogers

4.6/5

Excellent. Couldn't put it down. Jim Rogers best thinking distilled.I've been a fan of Rogers since stumbling onto Adventure Capitalist back in 2003, and was fortunate enough to have one-one-one lunch with Rogers in 2005. Investment Biker and A Gift to My Children are also very much worth reading. I think you can skip A Bull in China and Hot Commodities.Many reviewers think Rogers comes off as arrogant and disrespectful. People said the same thing about Steve Jobs. The problem is the disconnect between the old paradigm that may still be prevent, and the new paradigm that visionary has already accepted. The contradictions are interpreted as disrespect.Bottom like, Rogers correctly called the 2007/08 housing collapse back in 2003. He called Fanny Mae and Freddie Mac scams back in 2003. He's been pointing out the dangers of the US financial system since 1994. What were the so called "experts" right about? Jim Rogers suggests that if we're going to fix the USA, we would need to:* change the tax system* change the education system* health care and litigation reform* bring the troops homeOf course that's not going to happen, so you should plan accordingly!Rogers also brings up the interesting Gov at Home movement that believes corruption could be reduced by having elected representatives telecommute from offices in their home districts. The citizens they represent can easily access them, while lobbyists would have to travel all over the state or nation to push their narrow interest. Rogers even suggests that a "military draft" or "jourer selection" mechanism would produce better elected representation than our current system.Personally, I'm even more interested in possibilities of Liquid Feedback as used by the German Pirate Party.Rogers talk about:* Growing up in Alabama, school at Yale and Oxford and Rowing* Life on Wall Street, path to Soros and Quantum Fund** Commodities vs other Asset types** How supply/demand actually works - high prices create supply** Short Selling good for the market, but vilified** How to invest --- do not diversify* Teaching at Columbia. * Tenure, Bad Debt, and Bubble of US Higher Ed* Recent lawsuit over the RICI (Rogers Int'l Commodity Index)* Need for US legal system reform* Opportunity in North Korea and Myanmar* Irreversible global money and power shifting to Asia* Problems with the US and how they should [but won't] be fixed
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