Last Updated : 07 October 2012 at 12:05 IST
Epic Debate: It is Jim Rogers Vs. Marc Faber on China
Source :cnbc
Jim Rogers reply that he is bullish on China and he believes that China is about to become the greatest country in 21st century. “I only buy China when it collapses” he said, and added that he bought into Chinese assets thrice: 1999, 2005 and 2008 November when there were collapses.
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While the investment gurus Jim Rogers and Marc Faber agree on certain points in a CNBC TV debate, there are instances where they disagree.
For example China: Marc points out that China’s bench mark stock index the Shanghai Stock Exchange Composite Index was at 6100 in 2007 even as it is currently at 2086 levels these days; how would Jim Rogers be able to maintain that he is bullish on China?
Jim Rogers reply that he is bullish on China and he believes that China is about to become the greatest country in 21st century. “I only buy China when it collapses” he said, and added that he bought into Chinese assets thrice: 1999, 2005 and 2008 November when there were collapses.
“But there is a huge difference when one says that China is going to be the greatest country in 21st century and one should buy Chinese stocks” Jim Rogers stressed. “But I do buy Chinese stocks and would buy more if China collapses.” he said. And I buy them for my daughters; one day they may say that, “old man was a smart guy.”
Marc Faber meanwhile is bullish on Russia, as per Jim Rogers.
On US’ QE initiatives, Jim Rogers said that the biggest problem with authorities is that, “they think they know what they are doing” which actually may not be the case.
On Romney and Obama, Jim said, “they are both the same” to which Marc Faber agreed.
Jim Rogers mentioned that he is long on commodities and currencies and short on stocks. “If money printing continues by central bankers, bond markets would collapse and interest rates would shoot up.” he added.
