1. Main
  2. Learn
  3. Economy
  4. Finance

American billionaire Jim Rogers advises to invest in emerging markets like Kazakhstan

American investor Jim Rogers. ©cnn.com American investor Jim Rogers. ©cnn.com

A famous American investor and businessman Jim Rogers said in his recent interview to CNN that he continued purchasing shares of Russian companies and advised to invest in the emerging markets like Iran, Kazakhstan, North Korea and a number of African countries.

The American investor spoke about his activities at the Russian stock market and his recent purchase of the shares of the agricultural companies: "On Monday I've bought an agricultural company. I am director of a fertilizer company, because I am bullish on agriculture and I am bullish on Russia."

Jim Rogers, who is also a co-founder of the Quantum Fund along with George Soros, continues buying into Russian companies. Apart from that, he has recently bought Russian government bonds: "I've also bought Russian government bonds in ruble (Russian currency) last week. Ruble collapsed and interest rates are very high in Russia right now."

He also advised to invest in emerging markets. "Place you could look now are Iran, some of the African countries, Kazakhstan. These are not very big markets, but they are starting to open up and change," he said, “China's stock market is now about 40 percent below their historic records, Japan's stock market - 50 percent."

When speaking about the US dollar, he admitted he held more dollars than any other currency. However, in the long term he was concerned about the stability of the dollar. “Everyone says dollar has grown quite significantly. If the value of an asset increases without serious corrections for a long period of time, it is a reason for concern,” American businessman said.

Rogers repeatedly advised to buy Russian rubles and Chinese yuan instead of dollars and euros. In April, when speaking at the St. Peterburg International Economic Forum, he said many people thought it was safe to buy dollars, but he believed that "in two or three years, we will have problems with it and many investors will suffer". 

He raised the same concern about the euro, saying that it would not be a safe currency for another five years and moreover, he predicted that "something is bound to happen — in Greece or Portugal". 

Time will tell whether Jim Rogers is right about his predictions, but he was the one who in 2007 accurately predicted the mortgage crisis in the United States and in the fall of 2014 - a sharp fall in oil prices.

By Assel Satubaldina
 

 


Nobel prizewinner proposes a new city in KZ
New abnormal snowfalls expected in Kazakhstan
Huge glacier retreat triggered in 1940s
Hyperloop construction begins in Las Vegas
"Moonlight" to top Spirit Awards nominations
Oil prices fall due to investors uncertainty
New dwarf galaxy discovered around Milky Way
Kanat Islam becomes a top ten WBO boxer
World oil prices continue to rise
Kazakhstan expects warming - Kazhydromet
Merkel to seek fourth term as chancellor
Sale of Tintin drawings set to break records
US, EU stocks fall as markets focus on dollar
Pacific leaders urged to defend free trade
EU warns eight nations on budget deficit
Universiade-2017: Athletic Village is ready
Bob Dylan can't make Nobel ceremony
Messi will never leave Barca - club president
Google, Facebook take aim at 'fake' news
Aerosmith announces Europe 'farewell' tour
Putin, Trump to normalise US-Russia ties
At least 10 hurt in southern Turkey blast
6.2 quake hits western Japan
OPEC agrees shock oil output cut
Israeli ex-president and Nobel laureate Peres dies
Germany blocks WhatsApp data transfers to Facebook
32,000 arrested in Turkey coup probe
Youth to the fore as Milan fashion week opens
Xenophobia threatening peace in eastern Germany
Four-in-10 Japanese are virgins: poll
Sweden re-militarises Baltic island of Gotland
China to launch second space laboratory: Xinhua
More than a billion stars mapped in Milky Way: ESA
Boxing: Golovkin eyes Saunders after stopping Brook
Kazakhstan shifts PM to security chief
Oil prices gain despite rising OPEC supply forecast
US to give Philippines military planes
Singapore wages war on Zika-bearing mosquitoes
Italy quake death toll nears 250
Viral photos add fuel to French burkini debate
18 dead as Italy struck by powerful quake
Japan's first lady visits Pearl Harbor
Pokemon's a no-go on Bangkok's roads
July was Earth's hottest month in modern times
Pakistan rock climbers scale new heights