| We talked, in a taped telephone interview at his | | | | how long? If and when the markets get cheap |
| home in Singapore, with Billionaire Jim Rogers, | | | | again, I will invest again. |
| legendary commodities trader, who picked the | | | | StockInterview: Is it the growth in China and India |
| bottom of the commodities bull market in 1999. | | | | which is driving the commodities boom? |
| With George Soros, Jim Rogers co-founded the | | | | Jim Rogers: Everybody's driving the commodities |
| Quantum Fund in 1970. | | | | boom because demand everywhere is going up: in |
| Over the next decade, Quantum Fund grew by | | | | the U.S., Europe, everywhere. Everybody's been |
| more than 3,300 percent. Rogers retired, later a | | | | growing, whether it comes from the Philippines, |
| guest professor of finance at the Columbia | | | | India or the U.S. Supply is under terrible stress. |
| University Graduate School of Business, and still | | | | There hasn't been much investment in productive |
| later circumnavigating the globe to firsthand | | | | capacity in any commodity in the past 25 years. |
| discover new investment opportunities. He is | | | | You have had supply going down for 25 years. At |
| widely and often quoted in the media about his | | | | the same time, demand has been growing |
| views on the commodities market. Bestselling | | | | worldwide, including India and China. It doesn't |
| author, investment biker, adventure capitalist and | | | | matter where the demand comes from. Yes, |
| widely followed, Jim Rogers talks about what he's | | | | India and China have been growing, especially |
| now investing in. | | | | China. |
| StockInterview: Of all the places where you can | | | | StockInterview: Is China undergoing something |
| invest, why China? | | | | similar to the Anglo-American experience of the |
| Jim Rogers: I'm investing in China because China, in | | | | Industrial Revolution in the nineteenth century? |
| my view, is the next great country in the world. | | | | And with strong accompanying growth both |
| The government is trying to do things now to | | | | England the United States had for several |
| encourage the stock market. They had a bubble, | | | | decades? |
| and the after effects of the bubble have worked | | | | Jim Rogers: Yes, in my view, that is what is |
| their way through the market. | | | | happening. There will be setbacks, needless to say. |
| StockInterview: What about investing in stock | | | | We had some pretty horrible setbacks as we |
| markets, other than in China? | | | | moved to power and glory. In the nineteenth |
| Jim Rogers: I've sold out of every (other) | | | | century, we had fifteen depressions. We had a |
| emerging market in the world. Some of them I've | | | | horrible civil war. We didn't have many human |
| owned for 15 or 20 years. Most of the emerging | | | | rights, or much less civil rights. We had some |
| markets in the world have gotten into a sort of a | | | | great setbacks as we grew. But, the U.K. had |
| mania phase. There are tens of thousands of | | | | terrible setbacks as they grew to become the |
| people flying around the world looking for new | | | | richest, most powerful country in the world at |
| emerging markets, these days. They've gotten a | | | | one time. China will have those setbacks. I expect |
| very excessive evaluation, huge amounts of | | | | to see some serious setbacks in Chinese real |
| foreign money has been pouring into them. | | | | estate. But they will be nothing more than |
| Whenever that's happened in the past, in the | | | | temporary setbacks on a rise, which I think will |
| stock market, it's been a sign of a top or trouble | | | | take them to be the most important country in |
| to come. I'm not particularly happy about us selling | | | | the 21st Century. |
| out, but in my experience it's time to get out of | | | | COPYRIGHT © 2007 by StockInterview, |
| these markets. There may be a chance to come | | | | Inc. ALL RIGHTS RESERVED. |
| back in - in a year or two or five. Who knows | | | | |