JIM ROGERS

Index investing outperforms active management year after year.

Commodities tend to zig when the equity markets zag.

The price of a commodity will never go to zero. When you invest in commodities futures, you're not buying a piece of paper that says you own an intangible piece of company that can go bankrupt.

Do not buy the hype from Wall St. and the press that stocks always go up. There are long periods when stocks do nothing and other investments are better.

Historically, there has been a bull market in commodities every 20 or 30 years.

Tough times helped many commodities producers become lean and mean through consolidation, mergers and cost-cutting. All that excess supply has been sopped up.

Right now I own shares of companies in 28 countries.

I think this is also a great time to invest in private equity, helping companies grow from the ground up.

Most of my thoughts, you couldn't print.

If the current birth rate, which is the lowest in the major developed countries, continues, there will be no Japanese. Who will pay the enormous debt?

You can no longer buy commodities at Merrill Lynch. My guess is many analysts and even executives are too young to know how profitable a hot commodities market can be. They will soon.

Get inside information from the president and you will probably lose half your money. If you get it from the chairman of the board, you will lose all of your money.

Bottoms in the investment world don't end with four-year lows; they end with 10- or 15-year lows.

Debasing your currency sometimes works in the short term, it has never worked in the long term and does not even usually work in the medium term. Lots of politicians like to do it because it is an easy way.

Never act upon wishful thinking. Act without checking the facts, and chances are that you will be swept away along with the mob.

Teach your children or your grandchildren Chinese. It is going to be the most important language of their lifetimes.

I was poor once, I didn't like it, I don't want to be poor again.

If you want to make a lot of money, resist diversification.

If you were smart in 1807 you moved to London, if you were smart in 1907 you moved to New York City, and if you are smart in 2007 you move to Asia.

The last leg of a bull market always ends in hysteria; the last leg of a bear market always ends in panic.

I haven't met a rich technician

It's a lot of fun finding a country that nobody knows about. The only thing better is finding a country everybody's bullish on and shorting it.

Not one country in existence today has had the same borders and government for as long as two hundred years. The world will continue changing.

The City of London and Wall Street are not going to be great places to be in the next two or three decades. It's going to be the people who produce real goods in charge – the farmers and the miners.

Unfortunately politicians are not very sound people or they wouldn't be politicians.