James Beeland Rogers Jr., also known as Jim Rogers, interview with Bloomberg TV on August 29, 2018.
Q2 hedge fund letters, conference, scoops etc
James Beeland Rogers Jr. Bloomberg TV Interview
Transcript
When our intelligence is Eric Galchen at regular Inkley now.
He went scarlet recently had a chance to talk with James Beeland Rogers Jr. about it. Why did you discover.
Right so we're going to drill down into Byker I'll give you my two cents on it. We'll look at what Jim said is the AI Google macro ETF. This is an ETF that picks other ETFs sort of like will the segment earlier this is going to use single country to try to figure out which will perform the best that either the hot thing right now but it's based on Geminids Kwanten what they thought would work. A couple of things to point out is 5 million is very small but it's only two weeks old and expenses are quite high one point eight percent is very high. ETF although 40 basis points of that is the cost of using other ETF but still high. Let's look at the holdings of the of the PGA and you're going to see a lot of little countries who have big positions in cash it can go to cash. But all in all that's 30 percent of us are 6 percent emerging markets and 40 percent developed and you can see all the single countries can constantly try to trade to get help on the list of the performance. It's too new to have a lot of performance but the back that looks good. But then again all ETF acceptable good if it can produce this kind of performance going forward it should do well and overcome that. But you know as Taylor mentioned we actually caught up with James Beeland Rogers Jr. and asked them how the CGF got started.
Some smart guys came to me much more than I am. We have an algorithm that we just said okay.
I have no idea. Any algorithm like her can incorporate short term measure. And we were looking at the holdings right now tahun Tony Tarkhan charging Trahant had about a 26 percent 20 percent rate. Why there's so much cash right now. What what is happening.
I mean Marman is the computer says that we're entering okay when markets are going to be bad we're going to have a bear market.
Who knows if the computer knows what it is or Jim just about the ETF itself and we look BGF Mitsubishi global macro ETF or other ETF fund the fund just had trouble in the asset markets go had a similar one that Sabre has won. They've had trouble breaking through their usually high cost and tend to be very cost. What do you think about this will help break through and gain an audience.
You know as well as I do that if you have performance everybody knocks on your door or if you don't have performance they go away and go somewhere else. Life's not about in the real world but a lot of things are going up instead of things are going down. So if we perform we will get money.
Ultimately it all comes down to performance. I know will load it up short terrible writing theU.S. sanctions and indicated they are not that worried about Russia's prospects. In fact when you look at the Nikkei are Russian stocks have a fairly small weighting in the shuckers so they want to you know you can override artificial intelligence any algorithm reflect your own and not do what the machine want you to do. What I did was I bought my own press by short time Russian government.
Had nothing to do with the yeah nobody can override the Jevon certainly not me I'm not as smart as the computer. I wouldn't even once over on the computer there is no one who can override. The computer again you know you are an ETF issuer and your ETF yes your issuer or any user and I were surprised to hear you comment about a year ago on how when the next bear market comes ETF investors will be in for a nasty shock because their ETF could go down more than the market now over the past.
So that hasn't been the case ETF tend to track exactly the stocks and bonds they hold. Why. What do you think will create that dislocation. Everybody now including me.
