Jim Rogers started trading the stock market with $600 in 1968.In 1973 he formed the Quantum Fund with the legendary investor George Soros before retiring, a multi millionaire at the age of 37. Rogers and Soros helped steer the fund to a miraculous 4,200% return over the 10 year span of the fund while the S&P 500 returned just 47%.

Tuesday, May 3, 2011

Jim Chanos : Time to Exit China?

James Chanos : .... we have what we think is an unsustainable growth path for china. they are growing on the back of investment, and specifically real estate construction. so the consumer as a percent of china's economy is actually dropping, maria. net exports, also dropping interestingly enough. all of the slack and then some is picked up by construction. particularly and most concerning, high-rise construction of offices and condos in the tier one, two and three cities. fixed asset investment including land, according to the chinese, is now 70% of their economy. and put that in perspective, the asian tigers in the mid-90s, that grew so fast and blew up had a number half that. about 30% to 35%. so china has embarked on something almost unprecedented

Silver is still very depressed on a historic basis - Jim Rogers

Jim Rogers : Silver has certainly gone up a lot in the last 9-10 months. There is no question about that, but remember, silver is still 10% below where it was 31 years ago. I bet you do not know many things that are 10% below where they were 31 years ago.
Silver has been going up but on a historic basis, it is still very depressed. Oil is up a lot in the last year or two, but remember the known reserves of oil are on a decline. People can moan all they want about. The fact is that the price of oil is up, but where is the oil? If somebody finds a lot of oil, prices are going to go much-much higher.

in ET Now

The US is always an exception

" To my knowledge, no country to date has expropriated money from overseas that was already there before exchange controls were instituted – but the US is always an exception" - Jim Rogersvia Minyanville



Jim Rogers started trading the stock market with $600 in 1968.In 1973 he formed the Quantum Fund with the legendary investor George Soros before retiring, a multi millionaire at the age of 37. Rogers and Soros helped steer the fund to a miraculous 4,200% return over the 10 year span of the fund while the S&P 500 returned just 47%.

Jim Rogers: I own very few equities

Jim Rogers : I own very few equities. My portfolio consists mainly of commodities and currencies. If the world economy gets better, you will make money in commodities because big shortages are developing. If the world economy does not get better, you are not going to make any money in stocks in a scenario like that.
in ET Now



You might make money in commodities because they will print even more money. Toyota and IBM are not going to go up if the world economy does not get better. Silver might, rice might, some of the things that are still depressed might because they are going to print even more money.



Jim Rogers started trading the stock market with $600 in 1968.In 1973 he formed the Quantum Fund with the legendary investor George Soros before retiring, a multi millionaire at the age of 37. Rogers and Soros helped steer the fund to a miraculous 4,200% return over the 10 year span of the fund while the S&P 500 returned just 47%.
Jim Rogers "the 19th century was the century of the UK , the 20th century was the century of the US , the 21 st century is going to be the century of China "
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