It comes as no surprise that Mr. Jim Rogers, who famously moved from New York to Singapore because of his optimism surrounding the rise of China, isn’t all that bullish on U.S. stocks. Instead, Rogers, who co-founded the Quantum Fund with George Soros, is opting for equities in Japan and Russia. Here’s a snippet from Rogers in an interview with India’s Economic Times;
“We do not have full-fledged bubbles yet except in bonds, bonds everywhere are a full-fledged bubble. At the moment, if I will buy countries I would buy Japan, I would buy Russia; both are still down dramatically but lots of money is going to pour into both of them because they are cheap and likewise agriculture. I am not buying America, America is at an all time high. So, Japan, Russia, agriculture,” he said.
Rogers went on to mention his partiality for Japanese equities wasn’t a view on the Japanese economy as a whole. “By the way, Japan has got a terrible future. I have written three bestsellers on Japan in the last couple of years, talking about the disaster ahead of it. But if the central bank is going to print all this money and buy ETFs [exchange-traded funds], I am doing it too. But no, it does not have a good future,” he said. America now is doing the same thing as Japan, Rogers added.
He shamelessly went on to plug the Elements ETN-Rogers Agriculture [$RJA] ETF as a way to play agriculture. “The number of farmers in America has dropped by 90% in the last 100 years. Everybody has machines now but somebody still has to make this happen. We still have to have human beings and maybe we are never going to have agricultural cycles again. We have had agricultural cycles for centuries and we will again because of weather, humans, diseases, all sorts of reasons,” he said.