Tags: Jim Rogers | Russia | Japan | stock

Jim Rogers Sees Opportunities in Russian, Japanese Stock Markets

By    |   Thursday, 13 Feb 2014 01:39 PM

Russia and Japan count as top stock markets among those that are largely being overlooked now, says star investor Jim Rogers, chairman of Rogers Holdings.

Russia is "one of the most hated markets in the world," he tells ETF.com. "Russia is very, very cheap, and it's a very neglected stock market with enormous natural resources."

Rogers says he was bearish on Russia from the first time he visited in 1966 until 2012. "But in recent months I've started changing my views and have started buying shares in Russia."

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As for Japan, "I don't know if [it's] ignored or not, but it's down 60 to 70 percent from its all-time highs, so it's still neglected to some extent," he notes.

"Sure, it's doubled in the last year, but its all-time high is 24 years ago."

Prime Minister Shinzo Abe's massive monetary and fiscal stimulation will ultimately drive Japan to ruin, Rogers predicts. "But in the meantime, there are staggering amounts of money and spending. And printing has to go somewhere. I suspect a lot of it's going to find its way into the stock market."

Richard Barley of The Wall Street Journal, while not as enthusiastic as Rogers, also notes some strengths for Russia.

"Reserves are solid at $497 billion. And the country hasn't been a magnet for hot-money inflows," he writes. "From mid-2009 to the end of 2012, . . . portfolio inflows were just 1 percent of GDP, according to Morgan Stanley, versus 10 percent of GDP for Turkey."

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Russia and Japan count as top stock markets among those that are largely being overlooked now, says star investor Jim Rogers, chairman of Rogers Holdings.
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2014-39-13
Thursday, 13 Feb 2014 01:39 PM
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