Jim Rogers is a legendary investor, a swashbuckling traveller, a man who made his fortune before he turned 40. Now, he is an author and commentator. The man Times magazine once called the Indiana Jones of the world of investing has now morphed himself into a modern dad. In an exclusive interview with Ramesh Damani on CNBC-TV18’s show RD 360, Roger discusses his latest book, A Gift to My Children: A Father’s Lesson in life and investing.
Jim Rogers’ investment strategy is to look countries where valuations are cheap or paths that are less trodden.
He said, “I do try to find things that are cheap. Normally if something is cheap, it is because it is in the dustbin. People are not looking at it. If everybody is looking at something or if everybody is investing in something, you know as well as I do that it is not cheap.
Q: Let’s talk about the lessons in investing, some of which you have outlined in your book. The first lesson is, how do you size up a country? Can you give us an example of which country you are sizing now?
A: As I look around the world right now, I am not investing in many countries because if I am right about the world economy, we are in for an extended period of difficult times. So, the only place where I bought shares in the past year or so has been China. I have got Sri Lanka on my mind. It is just that I have been busy doing other things that I haven’t been able to get to Sri Lanka. But one of the things that I have learnt is that if you get to a country after a long and bitter war, you usually will find that things are very cheap, you will find a lack of capital, there is low morale, and everything is despondent, and there are usually great opportunities. So, Sri Lanka is on my list as a place where that sort of thing is happening, but there are not many, not these days.
Q: How do you size up a country? What are you looking for?
A: I am looking for two things. I am looking for them to be cheap, for whatever reason: War is a good reason. Cheap and change, where there is some kind of positive change taking place. Sri Lanka is cheap, because it has had a 30-year war and if I am right there is positive change because the war is over now. So, there is going to be peace and so the country can spend a lot of its time, energy and money on pursuing peaceful pursuits.
Full Story
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.