This is very unfortunate. I have known Jim Rogers for about 10 years. Jim started the Quantum Fund with George Soros.

Jim is the author of the book "Hot Commodities", and his calls on commodities and energy have been right on the mark.

The unfortunate part of this story is Jim runs a couple of commodities funds, the Rogers Raw Materials Fund and the Rogers International Raw Materials Fund. The management company for Rogers' commodity-tracking index fund had $362 million or over 60% of their assets with Refco.