JIM ROGERS

JIM ROGERS

Monday, April 21, 2014

Russian Stock Prices could triple

Tensions between Russia and the West may be on the rise following Moscow's annexation of Crimea, but some money managers say it's a good time to jump into the Russian market.

"Russia's stock market right now is one of the cheapest in the world, and probably one of the most hated," investment guru Jim Rogers, chairman of Rogers Holdings, said in Singapore Sunday, reports Reuters.

The ruble is down nearly nine percent on the year, and investors have pulled out about $4.4 billion from stocks and $4.1 billion from bonds between September 2013 and the middle of March, according to the latest data from EPFR Global.

"This is the time to buy Russia," said Rogers, adding that those banking on Russia should have a long-term strategy.

After Russia annexed Crimea, The U.S. and the European Union imposed sanctions that have already shown signs of hurting the Russian economy.

The country's reserve assets declined to $493.3 billion in February from $509.6 billion in December, according to data from the International Monetary Fund.

Rogers said he bought Russians stocks just last week and that if the EU and the United States impose more sanctions against the country and the market drops further, there would be even more buying opportunities there.

Rogers favors non-energy companies, although 58 percent of the RTS Index of 51 leading Russian companies is weighted towards energy and 13 percent towards basic materials.

Rogers is not alone in his thinking. "We believe that Russian equities are at levels which make them a compelling buy, and that patience will be rewarded," FMG chief investment officer Joe Portelli told Reuters.

"Russian stock prices could triple and they would still be at a valuation discount," agreed Chris Darbyshire, chief investment officer at Seven Investment Management. - in Benefits Pro



Jim Rogers started trading the stock market with $600 in 1968.In 1973 he formed the Quantum Fund with the legendary investor George Soros before retiring, a multi millionaire at the age of 37. Rogers and Soros helped steer the fund to a miraculous 4,200% return over the 10 year span of the fund while the S&P 500 returned just 47%.






Who is Jim Rogers ?

James "Jim" Rogers was born in Oct. 19, 1942 and grew up in Demopolis, Alabama .Jim Rogers started trading the stock market with $600 in 1968.In 1973 he formed the Quantum Fund with the legendry investor George Soros before retiring, a multi millionaire at the age of 37. Rogers and Soros helped steer the fund to a miraculous 4,200% return over the 10 year span of the fund while the S&P 500 returned just 47%. They ran what is considered to be one of the first truly global macro hedge funds. . In 1964 he got his first job on Wall Street at Dominick & Dominick in the summer between high school and Yale University, that's how he got his first experience with stocks and bonds. He immediately fell in love with the job. After Oxford, he returned to the U.S. and joined the army in 1970 he returned to Wall Street, working again with Dominick & Dominick. That same year he joined Arnold S. Bleichroeder, where he met George Soros, and together founded the Quantum Fund. This has opened a new era of global macrotrading and inspired numerous imitations and spin-offs. In the book "Money Masters of Our Time," Jim Rogers writes about that time "the most important thing in my life was work. I did not do anything until I had completed my work." To emphasize this professional ethic , it is good to remember that he did not made any holiday for ten years. In 1980, Jim Rogers has decided to "retire" at 37 years. Since then he has spent much of his time traveling and supporting the causes of philanthropic and taking on many high profile roles in the media. However, he continues to be an active investor and media commentator

Jim Rogers "the 19th century was the century of the UK , the 20th century was the century of the US , the 21 st century is going to be the century of China "