Jim Rogers Swindled By Namibian Diamond Peddlers

Jim Rogers’ new book is written as a “life lessons” letter to his young daughters, which is not a recipe for a must-read.  But here’s a fun anecdote:

Bloomberg: He recalls trips through war zones in Angola and Sudan, the time he was served snake for dinner (butchered before his eyes, yuck), and the day he bought a diamond from smugglers in Namibia. They said it was worth $70,000; he haggled the price down to $500. The gem turned out to be a glass bead. So much for all the years he has advised people “to invest only in what they know,” he says.

Jim also reveals the secret to investing success in Russia: be “in cahoots with the criminal element.”

Bloomberg has a full review here >

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