WEST PALM BEACH, FL (HEDGECO.NET) – Jim Rogers, former partner of George Soros and the co-founder of the Quantum hedge fund said the hedge fund industry’s performance has peaked. Part of his reasonstems from his belief that the equity and bond markets will not perform well. He also said there are not enough high quality hedge fund managers around. Rogers said, \u00c3\u00af\u00c2\u00bf\u00c2\u00bdI’m not too optimistic abouthedge funds and fund of funds because you won’t be making a lot of money from stocks in the next 15 to 20 years and bonds will be doing horribly.\u00c3\u00af\u00c2\u00bf\u00c2\u00bd<\/p>\n
Rogers made his remarks while attending a hedge fund conference in Tokyo. The 62-year old Rogers co-founded the Quantum hedge fund along with veteran hedge fund manager, George Soros in 1970. Rogers explained that the prosperous hedge fund managers of today achieved that reputation during the 90\u00c3\u00af\u00c2\u00bf\u00c2\u00bds when the bond and stock markets increased significantly. Such achievement would be hard to duplicate these days according to him.<\/p>\n
Rogers believe the commodity market is the best investment opportunity today, and he particularly likes the Chinese market. He said,\u00c3\u00af\u00c2\u00bf\u00c2\u00bd The current bull market in commodities started in 1999 and if you go back in history, the shortest bull-market period was 15 years and the longest 23 years, adding, \u00c3\u00af\u00c2\u00bf\u00c2\u00bdMost commodities like sugar and coffee remain at low prices, even oil, if it’s adjusted for inflation, remains 50 percent below its all-time high.”<\/p>\n
The veteran hedge fund manager believes the Chinese government will remove its currency\u00c3\u00af\u00c2\u00bf\u00c2\u00bds artificial peg to the US dollar during the next two-four years, in line with China\u00c3\u00af\u00c2\u00bf\u00c2\u00bds obligations to the World Trade Organization. He also said, \u00c3\u00af\u00c2\u00bf\u00c2\u00bdChina realizes it can’t become a great country with a blocked currency and will loosen (the peg) in the next two, three and four years.\u00c3\u00af\u00c2\u00bf\u00c2\u00bd The Yuan, is pegged at 8.3 to a U.S. dollar, and Rogers believes it will appreciate in value over the next two decades.<\/p>\n
Paul Oranika
Editor-in-Chief
HedgeCo.Net
Email: Editor@hedgeco.net<\/p>\n
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