Stocks in Sri Lanka are the only equities Rogers said he would consider buying at the moment, adding that he plans to hold on to his holdings in China for many years to come.
Sri Lanka’s stock benchmark, the Colombo All-Share Index, has jumped 60 percent this year as the government’s defeat of the rebel Liberation Tigers of Tamil Eelam ended 26 years of fighting on the island.
The dollar and U.S. Treasuries are both likely to slide as soaring government debt in the world’s biggest economy undermines confidence in its assets, according to Jim Rogers, chairman of Rogers Holdings.
“The government is printing lots of money and borrowing even more; that’s not the basis for a sound currency,” he said in a telephone interview today from Singapore. “The idea that anybody would lend money to the U.S. government for 30 years at 3 or 4 or 5 or 6 percent interest is mind-boggling to me.”
Rogers, the author of books including “Investment Biker” and “Adventure Capitalist”, said he holds fewer dollars than a year ago and plans to “short U.S. government bonds someday.” A short bet involves selling a security you don’t own with a view to buying it back after the price has fallen.
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“If I weren’t here, I’d be on a plane to Sri Lanka" - Jim Rogers on wonderful opportunities in Sri Lanka
US investment legend Jim Rogers, who co-founded Quantum Fund, prefers China, Sri Lanka to India for Investment
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