Thursday, October 4, 2012
Jim Rogers on China Being an Opportunity
Most people following the stock market know it is being set up for a m major correction, but according to Jim Rogers, there is another opportunity awaiting those who are looking for something now to invest in, and that is China.
As for the American stock market, it is likely it'll take from about six months to nine months to complete what is expected to be about a 20 percent drop. That means investors will have to divest of stocks and build up their cash position to be prepared for the time when stocks are much cheaper than they are today.
Rogers, who is a long-term China bull, has said in the recent past, and reminded people, that about a year ago Chinese leaders said they're going to slow down the economy because it had heated up too quickly.
So with that seemingly reached close to expected levels, Rogers believes it's time to take a closer look.
He said, "China's going to be the next great country in the world. I was violently and vehemently telling people not to buy China when it was going up in 2007. I only buy China when it collapses."
Jim Rogers backs up what he says, as at this time he is long currencies and commodities, while shorting the stock market.
Concerning buying China, one of the major ways Rogers does that is via commodities, although he also does that through the renminbi as well.