New Jim Rogers Book Due Out Tomorrow

Via: Taiwan Times

A quick reminder to our readers that A Gift to My Children: A Father’s Lessons for Life and Investing is due out tomorrow according to Amazon.com. The book is priced at $10.88+S&H. In it, Rogers has three tips for investors:

“Question everything, never follow the crowd, and beware of boys!”

Rogers is exploring the uncharted territory of fatherhood for the first time. In “A Gift to My Children,” he distills the lessons of his investing life into an open letter to his daughters Happy (born in 2003) and Baby Bee (who joined the family last year). The result is a zippy if uneven booklet of fatherly advice from a man who long scoffed at parenthood.

A New Man

Rogers is exploring the uncharted territory of fatherhood for the first time. In “A Gift to My Children,” he distills the lessons of his investing life into an open letter to his daughters Happy (born in 2003) and Baby Bee (who joined the family last year). The result is a zippy if uneven booklet of fatherly advice from a man who long scoffed at parenthood.

Not Your Typical Jim Rogers Book

Unlike Rogers’ previous books, this volume doesn’t dwell on his travel exploits or specific investing advice, though he throws in snatches of both. He recalls trips through war zones in Angola and Sudan, the time he was served snake for dinner (butchered before his eyes, yuck), and the day he bought a diamond from smugglers in Namibia. They said it was worth US$70,000; he haggled the price down to US$500. The gem turned out to be a glass bead. So much for all the years he has advised people “to invest only in what they know,” he says.

Do Your Own Research

Much of Rogers’ advice will be familiar to anyone who wants to get ahead. Be a self-starter, think for yourself and pursue something you’re passionate about. Do your own research and pay attention to details, however trivial they seem.

This sounds easy, but isn’t. His idea of due diligence involves reading every financial statement a company publishes, including the notes. Next step: verify the statements.

“Talk to customers, suppliers, competitors and anyone else who might affect the company,” he says.

Marriage Advice

“There is simply no way that we can expect an increased supply of raw materials from there anytime soon,” he writes.

Much of his advice will resonate with parents. His daughters shouldn’t get married until they are at least 28 and should avoid having drinks – let alone dinner – alone with the boss. They should also heed this sound principle for dealing with boys: “They need you more than you need them.”

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