It was a blast to go see Jim Rogers in Singapore–even if it was 20 hours of flight time! Here is an excerpt from one of his recent interviews:
If you do your job and do it better than anybody else, the money’s going to follow you. I tell my little girls — she’s only eight — but I say, look, if you want to be a gardener, Daddy’s going to bite his tongue and say, OK, become a gardener. Because the people who do what they want never go to work. They wake up every day and start having fun. They can hardly wait. And someday she will be the gardener at Buckingham Palace and someday she’ll have a chain of garden shops all across America, and she’ll be listed on the New York Stock Exchange. Everybody will say, we always knew you’d be a good gardener.
One doesn’t have to go to Princeton in order to be successful. In fact, I went to an Ivy League school, as you said. Many of the people I went to school with that was sort of the peak for them. They went to that Ivy League school and life went into decline after that. No, you don’t have to go to an Ivy League school. You don’t even have to go to college. And college these — you know, if you come out of college these days — if you come out of Princeton these days, you will be in debt by $300,000 — or somebody will be. Your parents will write the check, but somebody will be out $300,000. Is it worth it? I can’t see how it could be worth it. It’s a nice thing — it can help you get your first job, maybe even your second job, but after that it’s up to you.
If you’ve got a 401 — if you’re going to invest in anything, only invest in what you, yourself know a lot about. Don’t listen to people you see on television. Don’t listen to people you read in the magazines and the newspapers. You invest in only what you, yourself know a lot about. Otherwise, just put the money in the bank and earn very little interest these days, but at least you’re going to be earning interest and you’re not going to be losing money. Most professional investors do not even do as well as the industrial – – as the Dow Jones Industrial Average. They just don’t do as well as the averages. So do what you know. If you don’t know anything, put your money in the bank and do — and wait. Wait until you find something that you know will be a winner.
Well, the next 50 years is not going to be like the last 50 years for Americans, whether we like it or not. You know, we don’t — we’re not going to control the world in the next 50 years. We’re going to try, but we’re not going to be able to do it. So everybody should understand a foreign language and be fluent in it because we’re going to have a lot of dealings with the rest of the world and that will give you a leg up. My daughters speak Chinese. Now, that’s not going to make them successful, but at least if they’re working in a Chinese restaurant, at least they’re going to be the maitre d’; they’re not going to be the dishwasher.