Jim Rogers reveals simple explanation for his huge success
Thursday, June 25, 2009
The simple explanation for Jim Rogers' huge success as an investor traces back to one day on an airplane when he was a young man on Wall Street. An older gentleman sitting next to him told Rogers to "read everything."
He said if you simply read the annual report of a company, you're ahead of 98% of the people on Wall Street. If you read the footnotes, you're ahead of 100% of them. He's held the advice dear to this day, though he tends to read a few things in addition to annual reports.
Warren Buffett echoes Rogers' emphasis on reading. Charlie Munger - Buffett's long-time partner at Berkshire Hathaway - once told a crowd, "Warren was so successful because he sits on his ass and reads."
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Thursday, 25 June 2009
By Daily Crux Editor Brandon Herrin:
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