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Apparently there is a new Jim Rogers book in the works that will be available only in Mandarin. Asked as to why the book might not be available in English, Jim Rogers said the following;

“Well, there was a Chinese journalist who has been doing a huge study of my life it turns out, and she contacted me and said she would like to do a biography and would I agree and would I cooperate, and I said yes. That’s why it’s done in Chinese, I don’t know if it’s going to be in English or not, it’s not my book, she wrote it. It was written by a Chinese journalist for Chinese audience. It may well be in English someday, I am not translating it, I haven’t even read the book so I don’t know what it says. This is a book about me, not by me.”

President Barak Obama received further political boost three days ago when the House of Representatives approved a $3.4 trillion budget outline that endorses much of Mr Obama’s agenda. What do you think this gigantic increase will lead to? And who would benefit most from it?

It’s not good for America it’s not good for the world. It’s not going to work, they are spending a lot of money on making projects work rather than building long term competitiveness of America. America does not have that kind of money, they are going to have to borrow it, print it or tax it, none of which will be good for the American economy in the long run or for the world.

Click here to continue reading the rest of the interview…

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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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