A Quote by Jim Rogers
Commodities tend to zig when the equity markets zag.
Quote Topics
Quote Author
Related Quotes
Always zig when people expect you to zag. Confound them!
You want to stand out and be unique and do something different. I always try to zig when they zag - I guess it's a football term, but it applies to a lot of different areas of life.
That's life in the league for you, though. I mean - that's life for you, period. Things don't always happen in a straight line. There's usually going to be a zig here, a zag there, that catches you by surprise. And then it's on you to adapt.
The international institutions go around the world preaching liberalization, and the developing countries see that means open up your markets to our commodities, but we aren't going to open our markets to your commodities. In the nineteenth century, they used gunboats. Now they use economic weapons and arm-twisting.
I'm struck by the fact that by and large equity capital doesn't play a big role in new financing; it's either bonds or internal financing but not really equity. And therefore, it's not clear that anything which improves the equity markets has really much to do with the productivity of the economy as a whole.
What makes screenplays difficult are the things that require the most discipline and care and are just not seen by most people. I'm talking about movement - screenwriting is related to math and music, and if you zig here, you know you have to zag there. It's like the descriptions for a piece of music - you go fast or slow or with feeling. It's the same.
In my experience, some of the biggest obstacles to becoming a successful entrepreneur aren't financial or structural - they are internal and psychological. It's important for dreamers to believe in themselves and their ideas, to fend off the skeptics and find others who will share in their dreams. Once you understand that being called "crazy" is a compliment, you realize that you can get beyond other people's opinions and zig when others zag.
You see people in the left lane, and as long as they are on the speed limit, they stay there. Get in the right lane and let people pass you - let the police worry about somebody who wants to speed. Don't force them pass in the right lane and zig zag, which can create an accident, just because you think you're correct.
Ultimately savings have to go somewhere and I think they will find their home in financial markets and within financial markets, a large part in equity.
Just being able to trade financial commodities is a serious limitation because financial commodities represent only a tiny fraction of the reality of the real commodity exposure picture. We need to be active in the underlying physical commodity markets in order to understand and make prices.
Private equity capital in each of those markets Europe and Asia - while those markets have very different characteristics - fills a niche where either strategic investors or the public markets don't go, or don't want to go for some particular reason. I think that's going to continue to be the case going forward.
Most of the time, economic data is fairly benign. I don't wish to imply it is meaningless, but it is not a driver of stock markets. Indeed, the correlation between economic noise and how equity markets perform has been wildly overemphasized.
You can't rock the boat without being told you're off your rocker. Entrepreneurs' greatest asset is their contrarian way of thinking, their tendency to zig when others zag, to go in a new direction. But many people don't give themselves permission to get going for fear that they will be called crazy. I say not only is crazy a compliment, but if you're not called crazy when you start something new, then you're not thinking big enough!
One of the reasons why we can make a lot of money in equity markets is because they're auction-driven, and auction-driven markets are very different from almost any other kind of market.
If you have money draining out of the public equity markets, that inevitably affects the private equity market. They cannot exist going in different directions because somehow that will rent the fabric of the universe. It's just not permitted that that happens. Obviously there can be anomalies for brief periods of time but it just can't happen forever.
Being captive to quarterly earnings isn't consistent with long-term value creation. This pressure and the short term focus of equity markets make it difficult for a public company to invest for long-term success, and tend to force company leaders to sacrifice long-term results to protect current earnings.
Related Authors
Bill Gates Quotes
American
Businessman
Charlie Munger Quotes
American
Businessman
Dieter F. Uchtdorf Quotes
German
Businessman
Henry Ford Quotes
American
Businessman
Jim Rohn Quotes
American
Businessman
Joseph B. Wirthlin Quotes
American
Businessman
Mark Cuban Quotes
American
Businessman
Mark Zuckerberg Quotes
American
Businessman
Peter Drucker Quotes
American
Businessman
Richard Branson Quotes
British
Businessman
Russell Simmons Quotes
American
Businessman
Sam Altman Quotes
American
Businessman
Steve Jobs Quotes
American
Businessman
Tom Peters Quotes
American
Businessman
Walt Disney Quotes
American
Businessman
Warren Buffett Quotes
American
Businessman