Influential Investor Jim Rogers Talks Commodities And Japanese Stocks (Q&A)
Q: What are some stock markets you’re interested in?
A: First, the plenary session in Beijing in November – the Chinese say it’s one of the three most important things in the past 35 years of Chinese history. So I’m doing what they’re doing. I’m started to look for investments in the area where they’re going to put money. If the Chinese government is going to put a lot of money into something, I should, too. They have a lot more money than I do. They’re smarter than I am.
I started buying Russia in recent months. Yesterday [March 5] and the day before, I bought more. I haven’t bought too much, but have been looking for things to buy in Russia. I bought shares in the Moscow Stock Exchange. I bought Aeroflot. I own airlines around the world. And I’m looking to buy more in Japan, if given the chance.
I like to buy things that are depressed. Agriculture is very depressed. The American stock market is hitting all-time highs. I don’t find that particularly attractive.
Q: Why Japan?
A: First of all, the market is down 70 percent or so from its all-time high. But Mr. Abe has said he’s going to print unlimited amounts of money. Those were his words. So he’s going to ruin Japan. Twenty years from now, we’re going to look back and say: that was the death knell for Japan.
But in the meantime, if you print unlimited amounts of money it’s got to go somewhere. The market is down dramatically in 24 years. And Abe also passed a law giving tax incentives for ordinary Japanese to invest in the stock market. I’ve seen that happen many times in history, and it always gets people to invest.
For those reasons, I’m investing in Japan. I repeat: this is all going to be a disaster in the end. Printing unlimited amounts of money is terrible. Running up staggering debt is terrible. But that’s what Mr. Abe is doing. He’s going to ruin Japan. But he might make the stock market go higher.
Q: Any last thoughts?
A: Agriculture is very exciting for many reasons. We’re running out of farmers worldwide. More people in America study public relations, not agriculture. The average age of farmers in America is 58. In Japan, it’s 66. So if you want to get rich, become a farmer, not a stock broker.
Stock brokers will be driving taxis in the next few years. The farmers are going to be driving Lamborghinis. Sugar prices, for example, are down 75 percent from all-time highs. Learn about agriculture, don’t learn about finance.
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