Thursday, February 20, 2014

Jim Rogers is Buying Russian Stocks

Jim Rogers is buying Russian stocks for the first time in over four decades, the chairman of Rogers Holdings and internationally renowned investor has announced.

Speaking at Skagen New Year Conference in London, Rogers said the recent high profile releases of political prisoners and Pussy Riot members were welcome developments for Russia.

However, investor sentiment towards the stock market is quite different, he said.

'In 46 years I have never held a Russian stock but I have come to the conclusion that Russia is now one of the most hated stock markets and there are good opportunities there right now,' said Rogers.

Together with more ‘civilised’ policies at the Kremlin, Russia looks attractive as an investment case due to the fact that is one of the few emerging markets with a convertible currency and no big debt, said Rogers.

Rogers, who is usually based in Singapore, now owns the Moscow Stock Exchange and Aeroflot, a Russian airline company.

This latter position reflects a general wider preference for airline names, which includes positions in Scandinavian carrier SAS and Thai group NOK Air.

- Source, City Wire: