Investing guru Jim Rogers is far from concerned about the slowing Chinese economy. The longtime China bull is, in fact, heartened to see it finally happening.

He sees it as a chance to buy declining China stocks.The iShares FTSE/Xinhua China 25 Index ETF (FXI), a proxy for China’s industrial sector, is down more than 8 percent in the past month. The HSBC flash purchasing managers index, considered a leading indicator, shows industrial activity has slipped decidedly lower.

“I’m delighted to see it,” Rogers told CNBC. “They need to do that. It’ll be good for China, it’ll be good for the world, and it will present opportunities for all of us. I hope that the Chinese market collapses so I can buy Chinese shares.”

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He extended his call for a slowdown to the entire global economy, but still considers this to be good news for investors.

“I certainly expect the world to have more of a slowdown in the next year or two, and that will be an opportunity for all of us,” Rogers said.

Finding the right entry point for stocks might be troublesome, but the bond market is absolutely a sell now, says Burton Malkiel, author of "A Random Walk Down Wall Street."

"Bonds are the worst asset class for investors," Malkiel writes in The Wall Street Journal. "At a yield of 2.25 percent, the 10-year U.S. Treasury note is a sure loser."

As rates rise with recovery, expect bond buyers to suffer dramatically, he warns.

"Investors with long memories should recall that over the entire period from the 1940s until 1980 bonds were a horrible place to be," he says.

"Given the likely trends, U.S. Treasurys and high quality bonds are likely to be extremely poor investments and are very risky."

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