Monday, March 5, 2012

International investor Jim Rogers: Bullish on currencies, commodities,China - (blog)

International investor Jim Rogers told area business leaders at the Harbert Center this morning that China is the nation of the 21st Century, "whether we like it or not."
"I know they call themselves communists right now, but let me tell you they are among the best capitalists," Roger, an Alabama native, said at a breakfast meeting sponsored by Samford University.

The chairman and CEO of the Rogers Holdings also said he is bullish on commodities and foreign currencies. Even his young daughters -- who can speak Mandarin -- have savings accounts in foreign currencies and commodities. He and his family moved to Asia several years ago, and he wanted his children to be fluent in the Chinese language.
"When my little girls go to the playground, their portfolios do better than the other little girls on the playgrounds," he said.

Rogers said one of the main problems the United States faces is its skyrocketing national debt, along with a declining emphasis on education. However, agriculture is still an area in which the U.S. excels, he said. He suggested that students studying finance should instead consider a career in farming. He said it will be a promising area of the nation's economy for many years.
Although Rogers said this morning that investing in stocks this year should be relatively safe, he told CNBC yesterday that he's staying away from them. He said the economy is "fine" now, but 2013 and 2014 are years to worry more about. 
The event was the Samford Business Network quarterly meeting and breakfast, sponsored by Samford University's Brock School of Business and Birmingham-based wealth management firm Fi-Plan Partners.

Jim Rogers

Warren Buffett

Nouriel Roubini