Q: How about the worst investment decision and how did it end up?
A: This is way back in 1970, when I was still new to markets and the business.
I had all my money in puts in January, which people thought was nuts. I sold my puts the day the market hit bottom and tripled my money.
Two months later, I sold short several companies — but in the next two months, markets kept rallying, stocks kept going up.
I was wiped out and lost everything. Interestingly, the companies I'd short also went bankrupt over the next two years, but I was wiped out first.
This episode taught me that i didn't know enough about markets and market timing.
I thought I was smart but I didn't know better.
Q. Do you think markets are becoming increasingly risky for individual investors?
A: No. The markets have changed little in the basic underlying situation.
Q: What were some of the key lessons learnt during the Asian Financial Crisis?
A: Do not borrow short and lend long. Beware of excess borrowing and excessive consumption.
Q: Who / what has been the biggest influence in your life?
A: Education. I came from a small town in Alabama, it was education that gave me what I have now. I did well enough to go to Yale, and then got a scholarship to Oxford. My education took me away from the small town where I'd grown up. Otherwise, I wouldn't know what I'd be doing now.
Jim Rogers is a successful global investor and author of several books, including 'A Bull in China', 'Hot Commodities' and his latest - 'A Gift to My Children'. He was co-founder of the highly successful global Quantum Fund in the 1970s, which gained 4,200 percent over a 10-year period. Rogers now resides in Singapore with his family.
Watch Jim Rogers' Past Interviews on CNBC:
- Gold Could Exceed $2,000: Rogers
- More Upside for Euro-Dollar
- Investors Must Own Real Assets: Rogers