A Gift to My Children: Jim Rogers' Personal and Inspirational Guide for His Daughters (and All Young Investors)

Jim Rogers book a gift to my 18: A review and summary

If you are looking for a book that can teach you some valuable lessons for life and investing, you might want to check out A Gift to My Children by Jim Rogers. In this book, the legendary investor and world traveler shares his wisdom and experience with his daughters (and all young investors) in a heartfelt and honest way. In this article, I will review and summarize the book, as well as give you some tips on how to apply its advice to your own situation.

jim rogers book a gift to my 18

Who is Jim Rogers and why should you listen to him?

Jim Rogers is one of the most successful investors of all time. He co-founded the Quantum Fund with George Soros in 1973, which gained 4200% in 10 years, while the S&P 500 rose only 47%. He retired at age 37 and embarked on a series of world travels by motorcycle, car, and private jet. He visited more than 100 countries and wrote several bestselling books about his adventures and insights. He also created the Rogers International Commodities Index (RICI) in 1998, which tracks the performance of 38 commodity futures contracts.

Rogers is known for his contrarian and long-term approach to investing. He likes to buy low and sell high, often going against the crowd and the conventional wisdom. He prefers to invest in undervalued and overlooked markets, sectors, and companies, especially in emerging economies. He also likes to diversify his portfolio across different asset classes, such as stocks, bonds, currencies, commodities, real estate, art, etc.

Rogers has a wealth of knowledge and experience that he generously shares with his readers. He is not afraid to speak his mind and challenge the status quo. He is also humble enough to admit his mistakes and learn from them. He has a genuine passion for learning and exploring new things. He is not only a great investor but also a great father, who wants to pass on his legacy to his children.

What is the book about and who is it for?

A Gift to My Children is a short and simple book that contains Rogers' advice for his daughters (and all young investors) on how to achieve a prosperous and well-lived life. The book is divided into 17 chapters, each covering a different topic or theme. The book is not a technical or comprehensive guide to investing, but rather a personal and inspirational one. The book is written in a conversational and informal tone, as if Rogers is talking directly to his children.

The book is suitable for anyone who wants to learn some basic principles and tips for life and investing from a master. The book is especially relevant for young people who are just starting out in their careers and financial journeys. The book can help them develop the right mindset, habits, and skills that can serve them well in the long run. The book can also be enjoyed by anyone who is interested in Rogers' life story and philosophy.

The main lessons from the book

The book covers a lot of ground, but here are some of the main lessons that I learned from it:

Trust your own judgment and do your own research

Rogers emphasizes the importance of thinking for yourself and making your own decisions. He warns against following the crowd, the media, the experts, or the authorities blindly. He advises to do your own homework and analysis before investing in anything. He also encourages to be skeptical and curious about everything you hear or read.

Rogers credits his success to his independent and contrarian thinking. He says that he often made his best investments when he went against the popular opinion and found opportunities that others overlooked or ignored. He cites his early investments in China, Japan, Russia, commodities, etc. as examples of how he trusted his own judgment and did his own research.

Examples of how Rogers followed his own instincts and profited

• In 1979, Rogers invested in Japan when most people thought it was a hopeless case. He saw that Japan had a strong work ethic, a high savings rate, a low debt level, and a competitive edge in technology and manufacturing. He bought Japanese stocks at low prices and sold them at high prices in the late 1980s.

• In 1984, Rogers invested in China when most people thought it was a communist dictatorship. He saw that China had a huge population, a rich culture, a long history, and a potential for growth. He visited China several times and met with its leaders and entrepreneurs. He bought Chinese stocks at low prices and held them for the long term.

• In 1998, Rogers invested in Russia when most people thought it was a basket case. He saw that Russia had abundant natural resources, a well-educated population, and a cheap currency. He visited Russia several times and met with its politicians and businessmen. He bought Russian stocks at low prices and sold them at high prices in the early 2000s.

• In 1999, Rogers invested in commodities when most people thought they were boring and unprofitable. He saw that commodities had been in a bear market for 20 years and were due for a reversal. He also saw that commodities were essential for the development of emerging economies like China and India. He created the RICI index and bought commodity futures contracts at low prices and held them for the long term.

Focus on what you like and what you are good at

Rogers advises to pursue your passions and talents, rather than following the money or the trends. He says that you will be happier and more successful if you do what you love and what you are good at. He also says that you will have an edge over your competitors if you have a genuine interest and expertise in your field.

Rogers attributes his success to his love for investing and traveling. He says that he started collecting empty bottles at baseball games when he was five years old, because he liked to make money. He says that he studied history, philosophy, economics, etc., because he liked to learn new things. He says that he traveled the world by motorcycle, car, and private jet, because he liked to see new places.

Examples of how Rogers pursued his passions and made money

• In 1970, Rogers quit his job at a Wall Street firm because he didn't like the corporate culture and bureaucracy. He started his own hedge fund with George Soros because he liked to invest in global markets with his own style and strategy.

• In 1980, Rogers retired from his hedge fund because he didn't like the stress and pressure of managing other people's money. He started his own travel adventures because he liked to explore different countries and cultures with his own eyes and ears.

to share his stories and insights with his readers. He says that he enjoyed writing and received positive feedback from his fans.

• In 2000, Rogers moved to Singapore with his family because he liked the quality of life and the opportunities in Asia. He says that he wanted to give his children a global education and exposure to different languages and cultures.

Be persistent and resilient in the face of challenges

Rogers advises to never give up and never stop learning, even when you face difficulties and failures. He says that you will encounter many obstacles and setbacks in your life and investing, but you can overcome them with hard work and determination. He also says that you can learn from your mistakes and improve your skills and knowledge.

Rogers demonstrates his persistence and resilience in his life and investing. He says that he faced many challenges and risks in his career and travels, but he always found a way to overcome them and achieve his goals. He also says that he made many mistakes and losses in his investments, but he always learned from them and made better decisions.

Examples of how Rogers overcame difficulties and learned from failures

• In 1964, Rogers graduated from Yale University with a degree in history. He wanted to go to Oxford University for further studies, but he didn't have enough money. He applied for a scholarship from the Rotary Foundation, but he was rejected. He didn't give up and applied again the next year, and he was accepted. He went to Oxford and earned a second degree in philosophy, politics, and economics.

• In 1973, Rogers co-founded the Quantum Fund with George Soros. The fund had a spectacular performance in its first year, gaining 420%. However, in 1974, the fund suffered a huge loss of 50%, due to the oil crisis and the bear market. Rogers didn't give up and worked hard to recover the fund's performance. He also learned from his mistakes and became more cautious and diversified in his investments.

• In 1990, Rogers traveled around the world by motorcycle with his girlfriend Tabitha Estabrook. The trip lasted for 22 months and covered 101 countries. They faced many dangers and difficulties along the way, such as wars, diseases, accidents, breakdowns, etc. Rogers didn't give up and managed to complete the trip safely and successfully. He also learned a lot from his experiences and wrote a book about them.

• In 1999, Rogers invested in commodities when they were at their lowest point in decades. He believed that commodities were undervalued and had a bright future. However, he had to wait for several years before his investment paid off. He faced a lot of criticism and skepticism from other investors and analysts. Rogers didn't give up and held on to his investment patiently. He also learned more about the commodity markets and created his own index.

See the world and learn from different cultures and perspectives

Rogers advises to travel as much as you can and expose yourself to different countries and cultures. He says that you will gain a broader perspective and a deeper understanding of the world and its people. He also says that you will discover new opportunities and ideas that you might not find in your own country or region.

Rogers exemplifies his advice by traveling extensively throughout his life. He says that he has visited more than 150 countries in six continents by various means of transportation. He says that he has met many interesting people and learned many valuable lessons from them. He also says that he has found many profitable investments by seeing them firsthand.

Examples of how Rogers traveled the world and discovered opportunities

• In 1988, Rogers traveled around China by motorcycle with his girlfriend Paige Parker. They spent six months on the road and covered more than 10,000 miles. They saw the rapid changes and developments taking place in China's economy and society. They also met with many Chinese officials, entrepreneurs, farmers, etc., who shared their views and insights with them.

• In 1992, Rogers traveled around the world by car with Paige Parker. They spent three years on the road and covered more than 150,000 miles. They saw the emerging markets of Brazil, Russia, India, China, etc., as well as the developed markets of Europe, North America, Japan, etc. They also met with many political leaders, business tycoons, journalists, etc., who gave them valuable information and advice.

• In 2007, Rogers moved to Singapore with his wife Paige Parker and their two daughters. They chose Singapore as their base because they liked its location, infrastructure, education, and business environment. They also wanted to be closer to the Asian markets, which they believed had the most potential for growth and innovation.

• In 2010, Rogers traveled around the world by private jet with his family. They spent two months in the air and visited 116 cities in 45 countries. They saw the latest trends and developments in various industries and sectors, such as technology, biotechnology, agriculture, energy, etc. They also met with many influential people and experts, who shared their opinions and forecasts with them.

Nothing is really new and history repeats itself

Rogers advises to study history and learn from the past. He says that nothing is really new or unprecedented in the world, and that history tends to repeat itself or rhyme. He also says that you can find patterns and cycles in the markets and the economy, and use them to predict the future and make better decisions.

Rogers illustrates his advice by showing his historical knowledge and perspective. He says that he has read hundreds of books and articles on history, economics, politics, etc., and that he has learned a lot from them. He also says that he has used his historical analysis to identify trends and opportunities in the markets and the economy.

Examples of how Rogers recognized patterns and trends in the markets

• In 1971, Rogers predicted that the US dollar would decline in value after President Nixon ended its convertibility to gold. He saw that this was a historical turning point that would have major implications for the global financial system. He shorted the US dollar and made a lot of money.

• In 1976, Rogers predicted that commodities would enter a bull market after a long period of stagnation. He saw that this was a historical cycle that would last for about 18 years, based on his study of previous commodity booms and busts. He bought commodities and made a lot of money.

• In 1989, Rogers predicted that Japan would enter a bear market after a long period of expansion. He saw that this was a historical bubble that would burst sooner or later, based on his study of previous market manias and crashes. He shorted Japan and made a lot of money.

• In 2003, Rogers predicted that China would become the next economic superpower after a long period of isolation. He saw that this was a historical opportunity that would transform the world, based on his study of previous economic rise and fall of nations. He bought China and made a lot of money.

How to apply the book's advice to your own life and investing

Now that you have learned some of the main lessons from the book, you might be wondering how to apply them to your own life and investing. Here are some suggestions:

Trust your own judgment and do your own research

• Don't rely on others to tell you what to do or what to invest in. Do your own homework and analysis before making any decision.

• Don't follow the crowd or the media blindly. Be skeptical and curious about everything you hear or read.

• Don't be afraid to go against the popular opinion or the conventional wisdom. Look for opportunities that others overlook or ignore.

• Don't be influenced by emotions or biases. Be rational and objective in your thinking.

Focus on what you like and what you are good at

• Don't chase the money or the trends. Pursue your passions and talents instead.

• Don't do what everyone else is doing. Do what you love and what you are good at instead.

• Don't try to be good at everything. Find your niche and specialize in it instead.

• Don't settle for mediocrity or complacency. Strive for excellence and improvement instead.

Be persistent and resilient in the face of challenges

• Don't give up or quit easily. Work hard and persevere until you achieve your goals.

• Don't be discouraged or depressed by difficulties or failures. Learn from them and bounce back stronger.

• Don't be afraid or ashamed to ask for help or advice when you need it. Seek feedback and guidance from others who can help you.

• Don't be arrogant or overconfident when you succeed. Stay humble and grateful instead.

See the world and learn from different cultures and perspectives

stay in your comfort zone or your bubble. Travel as much as you can and expose yourself to different countries and cultures.

• Don't be ignorant or prejudiced about other people and places. Learn as much as you can and respect their views and values.

• Don't be narrow-minded or dogmatic in your thinking. Be open-minded and flexible in your approach.

• Don't miss out on opportunities or ideas that are not in your own country or region. Look for them and explore them wherever they are.

Nothing is really new and history repeats itself

• Don't be fooled or impressed by anything that is claimed to be new or unprecedented. Check the facts and the history behind it.

• Don't ignore or forget the lessons of the past. Study them and learn from them.

• Don't be surprised or unprepared by anything that happens in the future. Anticipate it and plan for it.

• Don't be blind or oblivious to the patterns and cycles in the markets and the economy. Recognize them and use them to your advantage.

The pros and cons of the book

As with any book, there are some pros and cons of A Gift to My Children. Here are some of them:

What I liked about the book

The book is concise, candid, and inspiring

The book is only 112 pages long, but it covers a lot of ground. It is easy to read and understand, without any jargon or technicalities. The book is also honest and straightforward, without any sugarcoating or flattery. The book is also motivating and uplifting, without any preaching or lecturing.

The book offers practical and timeless wisdom

The book provides some useful and relevant advice for life and investing, based on Rogers' own experience and knowledge. The book also shares some universal and enduring principles that can apply to any situation or circumstance, regardless of time or place.

The book shows Rogers' love for his children and his humility

The book is written as a letter from Rogers to his daughters, expressing his hopes and wishes for them. The book also shows his affection and care for them, as well as his respect and appreciation for their mother. The book also reveals his humility and modesty, as he admits his flaws and failures, as well as his gratitude and luck.

What I didn't like about the book

The book is sometimes too simplistic and anecdotal

The book sometimes oversimplifies complex issues and phenomena, such as economics, politics, history, etc. The book also sometimes relies too much on anecdotes and stories, rather than facts and data.

The book is sometimes too biased and opinionated

The book sometimes reflects Rogers' personal views and preferences, rather than objective realities or truths. The book also sometimes expresses Rogers' judgments and criticisms, rather than constructive feedback or suggestions.

The book is sometimes too dated and irrelevant

The book sometimes refers to events and situations that are no longer current or relevant, such as the financial crisis of 2008, the rise of China, etc. The book also sometimes ignores or overlooks new developments and trends that have emerged since its publication, such as the COVID-19 pandemic, the rise of cryptocurrencies, etc.

Conclusion and FAQs

In conclusion, A Gift to My Children is a great book for anyone who wants to learn some valuable lessons for life and investing from a master. The book is concise, candid, inspiring, practical, timeless, loving, and humble. The book also has some drawbacks, such as being simplistic, anecdotal, biased, opinionated, dated, and irrelevant at times. However, these do not detract from the overall quality and usefulness of the book.

Here are some FAQs about the book:

Q: When was the book published?A: The book was published in