Jim Rogers and Paige Parker
- noggin
- Cambrudg10
- adambc123
- OxfordBarney
- OxfordBarney
- OxfordBarney
- bumble70
- dmac777
- lessismore
- Normxxx
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» noggin - Jim Rogers to lose some pocket change ?
.http://www.blogginwallstreet.com/
Thursday, October 20, 2005
Gold Fever
There are no sure indicators that a market bubble is going to pop. And you never know for sure that there’s been a bubble until after it does pop. But there are side affects, one of which is excessive greed. Enron, WorldCom, and others were side effects of the late 90s bubble. In the 80s Milkin, Boesky and others were side effects of the raiding and junk bond trading of that era. There have been countless others throughout Wall Street’s history and they all had one thing in common, gold fever. When money gets easy, people get greedy. The Refco fiasco is a side effect of the recent excessive interest in commodities markets. Apparently, Jim Rogers is now a side effect of a side effect. One of Rogers commodity funds had $362 million in unsecured funds with Refco. The irony of it is that Rogers has been a big instigator of the commodities bubble via his book hot commodities and publicly advocating commodities as an investment. His advocacy drew public attention to the commodities market, which supported the trend in commodities speculation that enabled Refco to go public this year and made funds readily available for rapscallions like Refco’s Phillip Bennett who hid hundreds of millions in debt.
Woops. That’s what you get Jim for your part in instigating a speculative mania in commodities that’s now afflicting the economy with a resurgence in 70s like energy and commodity inflation that’s siphoning off consumer spending worldwide, all just to pimp your funds and pump up your wealth by taking advantage of innocent and ignorant average people.
-- posted by noggin
» Cambrudg10 - Re: Re: Forgot to Mention An Important Fact -- Re: Re: Jim is bu
In response to Re: Forgot to Mention An Important Fact -- Re: Re: Jim is buying posted by hsmcmrp:My family invested in the Rogers fund and wants to confer with other investors about protecting our investment--are you still an investor? Can you put me in contact with any?
-- posted by Cambrudg10
» adambc123 - Re: Re: Re: Forgot to Mention An Important Fact -- Re: Re: Jim i
In response to Re: Re: Forgot to Mention An Important Fact -- Re: Re: Jim is bu posted by Cambrudg10:Yes - I am in the fund and am trying to talk to others in the fund about what to do, whether to take the special redemption, etc. Please email me at adambc123@aol.com.
-- posted by adambc123
» OxfordBarney - Re: Re: Re: Forgot to Mention An Important Fact -- Re: Re: Jim i
In response to Re: Re: Forgot to Mention An Important Fact -- Re: Re: Jim is bu posted by Cambrudg10:Dear Cambrudg10,
I am also an investor in the Rogers Fund. Have you heard any word from Jim Rogers over the last couple of days? I wish he would come out and make a statement to his investors.
OxfordBarney
-- posted by OxfordBarney
» OxfordBarney - Re: Re: Re: Re: Forgot to Mention An Important Fact -- Re: Re: J
In response to Re: Re: Re: Forgot to Mention An Important Fact -- Re: Re: Jim i posted by adambc123:The news seems to have stopped on the Refco Rogers story. Internet searches have been throwing up the same stories for about a week now. It would be re-assuring to hear from Jim himself in some capacity or other, since most invested in his fund out of respect for his views and cautious investing style. We really did invest in his reputation and on the strength of his name.
-- posted by OxfordBarney
» OxfordBarney - Re: Re: Re: Re: Forgot to Mention An Important Fact -- Re: Re: J
In response to Re: Re: Re: Forgot to Mention An Important Fact -- Re: Re: Jim i posted by adambc123:My understanding of the November redemption option is that no money will be forthcoming until all is resolved, if any comes at all, regardless of whether the election to redeem is taken or not. However, it might serve as protection against a run on the fund. What do other investors think? Has anyone received the election forms yet?
-- posted by OxfordBarney
» dmac777 - Re: Re: Re: Re: Forgot to Mention An Important Fact -- Re: Re: J
I am also in the fund and am researching the best strategy to follow. The fund managers claim more people are upset that they cannot enter fund untill resolution as they are mising out on trades.Sounds fishy to me. Claims, but no guarantees, court will confirm funds position and we will all be ok.
Anyone else have any news or advice?
-- posted by dmac777
» lessismore - Re: Re: Re: Re: Re: Forgot to Mention An Important Fact -- Re: R
I am also invested in Rogers Fund. I have no news or advice. I want to get out what we can, my husband sees no upside in doing so.I wonder whether Beeland/Rogers was more interested in wooing Refco as an investor in Beeland and thus, didn't do the due diligence they should have when selecting a broker for such large sums.
I'd be intersted in what others decide to do and their reasoning. Maybe it will change my or my husband's mind.
On a similar track, I know nothing about investing in commodities, that is why I paid the 5% commission and relied on Rogers' expertise.
Does anyone know how the Rogers TRAKRS work?
Sorry for such a newb question, but I was wondering if that is a place to put any $$ we do get out of the Rogers Fund.
Thanks,
Kim
In response to Re: Re: Re: Re: Forgot to Mention An Important Fact -- Re: Re: J posted by dmac777:
-- posted by lessismore
» Normxxx - Re: Re: Re: Re: Re: Forgot to Mention An Important Fact -- Re: R
In response to Re: Re: Re: Re: Forgot to Mention An Important Fact -- Re: Re: J posted by dmac777:My experience with a similar situation (commodities broker went bust) is that these things take years to resolve! The lawyers milk it for all it's worth.
Refco is no third rate broker; and a lot of Wall Street took a bath buying their shares! Lots of pissed off "insiders!"
Claims, but no guarantees, court will confirm funds position and we will all be ok
That's assuming that the Fund's accounts have been correctly segregated and there is enough money to cover the segregated accounts (commodities brokers are not covered by SIPC and typically don't insure against failure), and any creditors ahead of the segregated accounts.
-- posted by Normxxx
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