Multi-Disciplinary Reading - Book Reviews

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For anyone trying to understand macro investing (especially the idea of changing world orders), the legendary Jim Rogers’ book “Street Smarts” is a wonderful read. My key notes below.

  1. Currency black markets are a gold mine for the macro investor. The % premium in the black market over the official rate is a key metric.

  2. The ease with which one can cross borders – is the process efficient or saddled with bureaucracy – is another key observation to make. The presence and quality of traffic signals, highways, roads etc. can be insightful too. (He invested in Botswana on this basis!)

  3. There are cycles throughout history between periods where financiers are prominent, v/s those dominated by real good producers (farmers, manufacturers, miners etc.) Wall Street and finance have dominated in recent decades but are now on a decline.

  4. 19th century belonged to London. 20th century belonged to New York. 21st century belongs to Asia.

  5. Cost of an Ivy League education is a bubble, in his opinion, which leads to massive student debt. Education loans can’t be written off under US bankruptcy laws.

  6. Another problem is tenure, where professors are guaranteed employment for life. This is irreversible and prevents error-correction.

Overall, a wonderful read on world orders and macro investing from one of its greatest practitioners. Doubles as a mini-biography of Mr Rogers too! 9/10

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Wow…very nice…how did u get the autographed copy…??

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thank you for the great review & summary.

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