Jim Rogers' 'A Gift to My Children' Can Potentially Educate the Next Warren Buffett

by: Miguel Barbosa

Legendary investor Jim Rogers co-founded the Quantum Fund with George Soros in 1970, retired at the age of 37 in 1980, and spent a number of years traveling through China and six continents by motorcycle. He has taught at Columbia University and authored many best selling books including; A Bull in China, Hot Commodities, Adventure Capitalist, & Investment Biker.

Our Take

As a fan and reader of all of Jim Rogers' books, I was happy to pore through “A Gift to My Children”. I read the book in 1 hour and purchased several copies for the younger members of my family. This book is not for advanced value investors, but rather for young minds. If I had this book when I was 8 years old, I would be a much wiser and smarter person today. Rogers delivers on his promise of providing gifts to younger members of society and deserves compliments for doing so. If you’re interested in cultivating a young mind and potentially rearing the next Warren Buffett, this book is for you.

Jim Rogers' Keys to Success (taken from the titles and sub headings of each chapter):

1. Do not let others do your thinking for you

2. Focus on what you like

3. Good habits for life & investing

4. Common sense? not so common

5. Attention to details is what separates success from failure

6. Let the world be a part of your perspective

7. Learn philosophy & learn to think

8. Learn history

9. Learn languages (make sure Mandarin is one of them)

10. Understand your weaknesses & acknowledge your mistakes

11. Recognize change & embrace it

12. Look to the future

13. “Lady Luck smiles on those who continue their efforts”

14. Remember that nothing is really new

15. Know when not to do anything

16. Pay attention to what everybody else neglects

17. If anybody laughs at your idea view it as a sign of potential success

Most powerful exercise from the book:

“Reflect on situations where conventional wisdom and custom turned out to be wrong. Take the time to find out what actually happened.”

Favorite Quotes:

“Anything that is a must see, must try, must read, should almost certainly be avoided, especially if it is popular.”

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

“Learn to stay calm especially in times of pressure or turmoil. You will make much better decisions.”

“Do not get married until you are at least 28 and know a bit more about yourself and the world.”

“Learn to do as much arithmetic and figures as possible in your head.”