Saturday, September 12, 2009

Not The time to Buy China Stocks says Jim Rogers

Jim Rogers on China's stocks: not the time to buy

"I will not buy Chinese stocks at this time. After a year or two, I would consider buying Chinese stocks again. " Jim Rogers told today the chinese newspaper The People's daily online , on the same way Rogers told yesterday another Chinese newspaper The Shanghai Securities News

that he is holding back from buying any commodities at the present time , so that's quite a dramatic change recently in Jim Rogers investments strategy , the legendary investor is known for being very bullish on commodities and China in particular , he recently became bullish on Sri Lanka after the 30 years war ended ...
Jim Rogers have bought his first Chinese stocks in 1999 he said that he never sold one since but that he won't be buying any Chinese stocks at the present time cause the prices have soared dramatically since the beginning of this year , the Chinese stock market rose by an estimated 80% in 2009 , Jim Rogers says that he will buy more Chinese shares in the future if he senses any signs of collapse in the Chinese market ....Jim Rogers is presently in China participating in a forum in Guangzhou , Guangdong province

Via People's Daily Online

1 comment:

AnonymousSeptember 12, 2009 at 10:04 AM
Guangzhou is a real dump. Take a quick look around the factory towns and you'll find some of the worst living conditions in civilized China. Real rat holes.
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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

Mr. Jim Rogers is Independent Director at Xylem, Inc., a Member-American Section at Société de Chimie Industrielle, a Member-Executive Committee at Sequoyah Corp., a Member at The Business Roundtable, and a Member-Executive Committee Sequoyah Council at Boy Scouts of America.

He is on the Board of Directors at Xylem, Inc. and LORD Corp.

Mr. Rogers was previously employed as a Member by American Chemistry Council, Inc., President by United Way of Greater Kingsport, Executive Chairman by Eastman Chemical Co., Chairman & Chief Executive Officer by Eastman Ventures, Chief Financial Officer & Executive Vice President by Building Materials Corp. of America, Chief Financial Officer & Executive Vice President by GAF Corp., Executive Vice President-Finance by International Specialty Products, Inc., Treasurer by Amphenol Corp., Vice President-Finance by Morgan Guaranty Trust Company of New York, and Naval Aviator by United States Navy.

He also served on the board at Genencor International, Inc.

He received his undergraduate degree from the University of Virginia and an MBA from The Wharton School of the University of Pennsylvania.