Tuesday, June 12, 2012

Jim Rogers bullish on Chinese stocks - Morning Whistle

Jim Rogers is bullish about Chinese publicly listed companies, saying at an investment forum that he won’t sell his Chinese stocks in this bear market but he would like to buy more Chinese shares and leave his holdings to his offspring.
While saying he doesn’t hold too many stocks, he insisted he wouldn’t sell the Chinese shares that he has acquired and will pass them on to his family.

“I always take the opportunity to buy Chinese shares when the stock market plunges and I‘ll leave these assets in the form of Chinese shares to my grandchildren.

He also believes the world economy now is facing the same turmoil it experienced in the 1920s and 30s.

“The global economic restructuring from England to America came with the economic and financial crisis made by politics at that time. The world now sees a similar change again, the transition from America to Asia. Moreover, this financial crisis is also led by these mistakes from policy makers.”

Roger said China, Japan, South Korea, Hong Kong and Taiwan are among the biggest creditors globally. In other words, Asia is now home to the world’s asset, while the U.S. is the biggest debtor country in history.

Last but not the least, the legendary investor pointed out his concerns about Western countries’ debt problems and the collateral damage they could pose to emerging markets.

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Jim Rogers

Warren Buffett

Nouriel Roubini