It should come as no surprise that Jim Rogers, who became famous for moving from New York to Singapore for believing in the rise of China, is not a fan of US stocks.
Rogers, who co-founded the Quantum Fund with George Soros, likes stocks in Japan and Russia. Here’s what else Rogers said in an interview with India’s Economic Times.
“We don’t have complete bubbles yet, except for titles, titles everywhere are a complete bubble. At the moment, if I were to buy countries, I would buy Japan, I would buy Russia; both still fell dramatically, but a lot of money is going to be poured into both because they are cheap and also agricultural. I’m not buying America, America is on the rise. So Japan, Russia, agriculture, ”he said.
Rogers made it clear that his preference for Japanese stocks was not an opinion on the Japanese economy.
“By the way, Japan has a terrible future. I have written three bestsellers about Japan in recent years, talking about the disaster to come. But if the central bank is going to print all that money and buy ETFs [exchange-traded funds], I am also doing this. But no, it doesn’t have a good future ”, he said. America is now doing the same thing as Japan, Rogers added.
The Nikkei 225 NIK,
broke 30,000 for the first time in 30 years on Monday. The S&P 500 SPX,
finished at its second highest level on Tuesday.
Russia, he says, will benefit from its exposure to CL.1 oil,
and agriculture.
He, perhaps not surprisingly, connected Elements ETN-Rogers Agriculture RJA,
ETF as a way of playing in agriculture. “The number of farmers in America has fallen by 90% in the past 100 years. Everyone has machines now, but someone has yet to make it happen. We still need to have human beings and we may never have agricultural cycles again. We have had agricultural cycles for centuries and will have them again because of the climate, humans, diseases, all kinds of reasons, ”he said.