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A Leo. Others perceive me as arrogant, pompous, aggressive, dominating, disparaging, unforgiving, demanding, impatient, obnoxious, loud and uncouth, intimidating, poor listener, generous, kind, intelligent, and open. Agree with the attributes as perceived by other. See or portray myself as original, flexible, skeptical, philosophical, logical, rational, analytical, interesting, hardworking, knowledgeable, keen learner, mischievous, worldly wise. Self aware of short coming and trying to change. Progress slow.

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Jim Roger

Simple of Investing
Wait for Opportunity
Jim Rogers is somebody else you ought to listen to on the subject of managing your own money. He used to work with George Soros. Rogers drove around the world twice, once on a motorcycle and once in a car, and wrote a book about each trip.
Rogers told author John Train in 1989 that you should, "take your money, put it in Treasury bills or a money-market fund. Just sit back, go to the beach, go to the movies, play checkers, do whatever you want to.
"Then something will come along where you know it's right. Take all your money out of the money-market fund, put it in whatever it happens to be and stay with it for three or four or five or 10 years, whatever it is.
"You'll know when to sell again, because you'll know more about it than anybody else. Take your money out, put it back in the money-market fund, and wait for the next thing to come along. When it does, you'll make a whole lot of money."
We don't get to see Rogers' balance sheet because he's not a public company. But Buffett clearly follows his own advice. His latest Berkshire Hathaway balance sheet shows total cash & equivalents of more than $46 billion, equal to about 27% of the entire company's current market value.
Not Easy
The only problem with this simple strategy of sitting in cash and investing only when circumstances are ideal is human nature. Nobody wants to do it. Nobody wants to be patient. Everybody wants to buy and sell quickly and make a fortune overnight. Judging from the results most people get, they really just want to buy and sell quickly, whether they make a fortune or not!
Of course, the average investor's impatience is just another easy way for us Extreme Value types to get an advantage. We can sit in cash, wait for something that is too good to pass up, then buy it and hold on.
Jim Rogers and Warren Buffett on How to Manage Your Money
By Dan Ferris, editor, Extreme Value
Saturday, May 26, 2007
http://www.dailywealth.com/960/Jim-Rogers-and-Warren-Buffett-on-How-to-Manage-Your-Money
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