It should come as no surprise that Jim Rogers, who moved from New York to Singapore because of his belief in the rise of China, is not a fan of American stocks. Rogers, who co-founded the Quantum Fund with George Soros, likes stocks in Japan and Russia. This is what Rogers said in an interview with the Economic Times of India.
“We still don’t have full-blown bubbles, except in bonds, bonds everywhere are a full-blown bubble. For the moment, if I am going to buy countries, I would buy Japan, I would buy Russia; Both are still falling dramatically, but a lot of money will be invested in both because they are cheap and also agricultural. I’m not buying America, America is at an all-time high. So Japan, Russia, agriculture, ”he said. Rogers made it clear that his taste in Japanese stocks was not an opinion on the Japanese economy. “By the way, Japan has a terrible future. I’ve written three best-sellers about Japan in recent years, talking about the looming disaster. But if the central bank is going to print all this money and buy ETFs [exchange-traded funds], I’m doing it too. But no, it doesn’t have a good future, “he said. The United States is now doing the same as Japan, Rogers added. The Nikkei 225 NIK, -0.58% surpassed 30,000 for the first time in 30 years on Monday. The S&P 500 SPX, -0.06% ended at its second highest level on Tuesday. Russia, he says, will benefit from its exposure to both CL.1 oil, + 1.48% and agriculture. He, perhaps unsurprisingly, used Elements ETN-Rogers Agriculture RJA, + 1.59% ETF as a way to play farming. “The number of farmers in the United States has dropped by 90% in the last 100 years. Everyone has machines now, but someone has yet to make this happen. We still have to have humans and we may never have agricultural cycles again. We have had agricultural cycles for centuries and we will have them again because of the weather, humans, disease, all kinds of reasons, ”he said.