Sunday, October 30, 2016

Jim Rogers Interview on This Week in Money

Thursday, October 27, 2016

Jim Rogers: Sterling is in serious decline

Investor Jim Rogers says there are "serious problems facing the UK" and that the pound's value will "certainly go under one dollar" if Scotland leaves the UK.

He told the BBC's Mark Mardell, "You've got a lot of debt, you've got a serious balance of trade problem which shows no signs of being corrected. I don't see anything to make sterling go up."

- Source, BBC

Friday, October 7, 2016

Deutsche Bank is Broke, Derivatives Collapse Coming

Jim Rogers sits down to talk about economic and geopolitical events that unfolding around the world. This comes at a time when the greed and fear index is hitting all time highs. What does the future hold?

Tuesday, October 4, 2016

If we all bought North Korean currency, we'd all be rich someday

Jim Rogers is nothing if not a contrarian, and one of his boldest moves is trying to bet on North Korea.

The famous investor, who cofounded legendary hedge fund Quantum with George Soros, spoke to Real Vision TV and said North Korea is where China was in 1981.

"If we all bought North Korean currency, we'd all be rich someday," Rogers said.

In short, Rogers is seeing the controversial country open up, which he says makes it a good bet.

Here's the relevant excerpt from the Q&A explaining why:

"Well, North Korea today is where China was in 1981. Deng Xiaoping started opening up in '78. Most of us, including me, either weren't aware of it or if we were aware of it. We ignored it, didn't pay any attention. North Korea is doing that now.

"There are 15 free trade zones there now. You can take bicycle tours of North Korea, if you want. You can take movie tours. I'm sure if [Kim Jong Un's] father were alive, he'd hang him. If his grandfather were alive, he'd torture him and then hang him, you know, for some of the things he's doing. I mean, you go to North Korea now, you see these astonishing restaurants with white tablecloths, cutlery, candles. I mean, this is North Korea we're talking about. Chefs. It's happening."

Rogers noted that Chinese and Russian investors are pouring in to the country and said that he almost became an investor in a Chinese group that had a bank in North Korea. He added that his lawyer told him he couldn't invest.

"They're going to be the richest people in China, because they're starting banks, and everything else in North Korea, and you and I just sit and look and say, 'Buy me a Champagne someday.'

Rogers is a pretty colorful guy and is known for his bold bets. He also has investments in Zimbabwe and has been looking at investing in Kazakhstan and Rwanda. That said, he isn't the only one looking at North Korea.

North Korea has been pushing to attract foreign investment, even posting videos on its "unique economic zones" on YouTube. And earlier this year, The New York Times published a profile on James Passin, a hedge fund manager at Firebird Management, who is trying to bet on the country.

Still, there is growing tension between the Hermit Kingdom and the rest of the world. The country has been launching ballistic missiles, with Kim Jong Un reportedly hosting a party to celebrate the most recent test.

That is making life harder for those who are invested in the country. Earlier this month,Reuters reported that the only law firm in North Korea set up by a foreigner, Hay, Kalb & Associates, will suspend operations.

- Source, Business Insider

Saturday, October 1, 2016

Investors Still Frightened By Russia

Famed commodities investor Jim Rogers thinks the market is in the process of detecting the next big crisis, and is still “frightened” by Russia.

“My first successful investment in Russia this year was shorting the ruble, but now I’m looking at finance, ruble bonds, opportunities in inbound tourism are all of interest because they can provide a higher return,” he said in an interview with business daily Kommersant published on Thursday. “Frankly, investors are still frightened about the prospect of investing in Russian securities,” he said.

Rogers called the Russian market one of the most perennially undervalued in the world. He said that oil prices will recover soon, but not by much as the global economy might suffer new shocks. One is the Federal Reserve raising interest rates in the U.S. and the other is the possible election of Donald Trump. For Rogers, a Trump presidency would make markets most skittish because of his stance on trade.

Trump has said he would retool the North American Free Trade Agreement, pan the Trans-Pacific Partnership Agreement, and is more pen to trade tariffs on Chinese imports in an effort to maintain manufacturing jobs in the U.S.

Rogers told the daily that a new crisis is likely within the next two years. It will come from an unsuspecting country first, like Iceland in 2007, a year before the Lehman Brothers blow-out in the fall of 2008.

Higher interest rates in the U.S. could lead to similar moves in Europe, which are currently dealing with the unheard of trend of negative interest rates, particularly in northern European countries.

- Source, Forbes