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I always enjoy watching and listening to Jim Rogers, the investor famous for being George Soros‘ partner in the record-breaking Quantum Fund, and for his world travels. Here he is again, being interviewed on CNBC. He exudes charm and calm, like a Zen master. The bright young things in the studio ask him sophisticated questions to which he responds by saying something like, “Well, you’ve put it very well yourself!” He manages to make his hosts sound and feel several times smarter than he is. He avoids any predictions, he reminds his audience regularly that he is the world’s worst timer of the market, a terrible short-term trader, and simply tells what he is (or is not) buying or selling. Will the price of gold go up? He says he has no idea! Consolidation in the price of gold is not surprising, he says, given the recent rise, and if the price continues to fall he hopes he’ll be sensible enough to buy some!

The people on these news programs are all interested in the short-term; none of them are interested in the long-term, nor are they interested in understanding the principles that underpin sound investing or the movements of the markets. They only want to know one thing: “Give us a hot tip!” What will go up? By how much? When? Rogers is supremely indifferent to all this, yet he never sounds condescending or belittling or rude. Plus he always wears these huge bow-ties!

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