Saturday, November 29, 2014
JIM ROGERS says Buy China, Russia & Japan
Roughly seven years ago, when China’s economy was surging and dollars were cheaper, “commodities” was one of the sexiest words in the investment lexicon.
Seven years later, many commodities—including oil, copper, and gold—have fallen in value and out of favor for a host of reasons. So what’s next for this timeless asset class? In a piece published Wednesday, Street Authority writer David Sterman discussed what legendary investor Jim Rogers is thinking about an investment category he has helped promote in recent years.
Over the past two decades, Rogers, who rose to fame in the 1970s when he partnered with George Soros to run the highly successful Quantum Fund, has staked his reputation on the belief that commodity prices would get a lift from growing demand from the emerging nations of Asia for food and basic building materials.
He even helped develop a series of commodity-related exchange-traded funds tied to proprietary indexes, including the Rogers International Commodity ETN (ticker: RJI ).
As Sterman writes, Rogers “concedes that he didn’t expect the current commodities meltdown, but is sticking with his view that commodities are still in a long-term bull market.” Now that the Russian economy is tanking, Jim Rogers is diving in. "I'm bullish on Russia," he told Bloomberg's Mark Barton on Tuesday "...Things are changing in the Kremlin, in my view. And so, therefore, I started investing," he said.
Although Rogers said that he's been bearish on Russia "for 46 years," he actually expressed similar views on CNBC back in 2012. "I'm convinced things are changing in Russia for the first time," he said back then.
"The attitude [in Russia] used to be: just take the money away from them, shoot them, put them in jail, whatever it is. Bankrupt them if we don't like you. But that's changed. Somebody there realizes [that] you cannot treat foreigners, or foreign investors, or capital that way," "The days of communism and the KGB is over," he added. "So they've started doing things differently. And so, I've started investing in Russia." In May 2012 he remarked during an interview with Forbes Magazine that "there's going to be a huge shift in American society, American culture, in the places where one is going to get rich. The stock brokers are going to be driving taxis. The smart ones will learn to drive tractors so they can work for the smart farmers. The farmers are going to be driving Lamborghinis. I’m telling you. You should start Forbes Farming." From Bitcoin to the Swiss gold referendum, and from Chinese trade and North Korean leadership, Jim Rogers covers a lot of ground in this excellent interview with Boom-Bust's Erin Ade. Rogers reflects on the end of the US bull market. citing a number of factors from breadth to the end of QE, adding that he agrees with Albert Edwards' perspective that now is the time to "sell everything and run for your lives," as the "consequences of [The Fed] are now being felt." Most notably though, Rogers believes the de-dollarization is here to stay as Western sanctions force many nations to find alternatives. Simply put, Rogers concludes, "we are all going to pay a terrible price for all this money-printing and debt."
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