So, which are these places that have a good story and action? Where would you put your money?
Jim Rogers : China, Japan and Russia. If I sold India this week, I would probably put that money in Russia. But I am not selling India this week. Russia has been one of the strongest and most attractive stock markets in the world this year. Russia has vast natural resources, it is not a debtor nation and, unlike India, it doesn’t have exchange controls. If anybody should have changed that, it should have been Modi; but he is not doing anything about exchange controls. There are many things going right with Russia. The price of oil has collapsed, which is hurting Russia badly, but that has already happened—it is old news and it will not have much of an impact in the future. Russia is perhaps the most hated stock market in the world even though it is among the best performing. That is because most people’s reaction is, why would you invest in Russia? There are good things happening in Russia that are attracting me as an investor.
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%.