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JIM Rogers Investment Guru

JIM Rogers Investment Guru

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Published by Rahul Mertia
Investment Guru
Investment Guru

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Published by: Rahul Mertia on Sep 09, 2013
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09/09/2013

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Investment Style: Jim Rogers
 
Jim Rogers Contrarian ValueInvesting Approach
Rogers has a knack for spotting a long-term trendlong before the masses.
The top down approach:-
Start by determining whether a country has turned acorner economically.
If it has, confirm that the currency is convertible.Because one should to be able to sell if there is achange in opinion.
If all systems are going well, he usually buys two or three of the largest companies there.
Being more of a top down player he was moreinterested in the macro set up of things rather thanworry about quarter on quarter fluctuations.
 
Jim Rogers criteria to look for beforeinvesting in a company
The best short candidates are stocks where Institutionsown more than 3 quarter of the shares.
Never try and make money from insider because it isalmost impossible to do so on a consistent basis.
Buy stocks of companies that are so undervalued thateven if nothing positive happens the maximum you canlose is on the opportunity cost of capital.
The micro numbers that he loved working on were:
Capital Expenditure as a percentage of depreciation, gross plantand net plant
 –
The ratio is highest when the company is at thetop of a cycle and vice versa. Compare this with a cash flowanalysis. At times of high capital expenditure plans the free cashflow diminishes and equity valuations take a hit.
Look at ratio of sales to receivables, debt to equity. A very highprofit margin with lower inventories and increasing capitalexpenditure is another indication to go short on a company.
Growth stocks are classic cases of shorting opportunities.

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