It should come as no surprise that Jim Rogers, who famously moved from New York to Singapore for his belief in the rise of China, is not a fan of US stocks.
Rogers, who co-founded the Quantum Fund with George Soros, does like stocks in Japan and Russia. Here’s what else Rogers said in an interview with India’s Economic Times.
“We don’t have full-fledged bubbles yet, except in bonds, bonds are a full-fledged bubble everywhere. If I were to buy countries right now, I would buy Japan, I would buy Russia; both are still down dramatically, but a lot of money will flow into both because they are cheap and agricultural just as much. I don’t buy America, America is on a record high. So Japan, Russia, agriculture, ”he said.
Rogers made it clear that his view of Japanese equities was not a vision of the Japanese economy.
Besides, Japan has a terrible future. I have written three bestsellers about Japan in recent years, in which I talked about the disaster that preceded it. But if the central bank is going to print all this money and buy ETFs [exchange-traded funds], I do it too. But no, it doesn’t have a good future, ”he said. America is now doing the same as Japan, Rogers added.
The Nikkei 225 NIK,
broke through 30,000 Monday for the first time in 30 years. The S&P 500 SPX,
finished on Tuesday at the second highest level ever.
Russia, he says, will benefit from its exposure to both oil CL.1,
and agriculture.
Perhaps unsurprisingly, he has connected the Elements ETN-Rogers Agriculture RJA,
ETF as a way to play farming. “The number of farmers in America has fallen by 90% in the last 100 years. Everyone has machines now, but someone has yet to make this happen. We still need people and we may never have agricultural cycles again. We have had agricultural cycles for centuries and we will do so again because of the weather, people, diseases, all kinds of reasons, ”he said.