Legendary global investor and chairman of Singapore- based Rogers Holdings, Jim Rogers reiterated that he sees prolonged economic problems and while he did not see much worth buying, he is not shorting any assets either.
In an interview with Bloomberg TV in Singapore, Rogers said he fails to see that there is anything “in great excess.” "I have no shorts for one of the first times in my life."
"On the other hand I don’t see much to buy," he added.
Nor is Rogers a fan of shorting Treasury bonds because he believes that the Federal Reserve can steer the market for them currently.
Rogers is mostly to be seen being interviewed on business networks in Asia or Europe, since his views are to put it mildly, somewhat negative on the US Dollar and the prospects for green shoots in the US economy.
He says, naturally, that commodities are the best place for investors to place their money due to inflation concerns.
Investors should be prepared for additional inflation down the road, Rogers warned.
"I’d rather be a farmer than a stockbroker for the next couple of years," he said.
A long-term advocate of commodities, Rogers believes that this will be the first sector to rise when the world gets out of the crisis, as investment has been curtailed during the crisis and this will create a shortage.
Rogers said he has not bought or sold mainland China shares recently as the stock market may have got ahead of fundamentals after rallying.
"I haven’t bought equities since I last bought Chinese shares in October," Roers said.
The Shanghai Composite Index has risen 80% this year as banks tripled new loans in the first half from a year earlier and the economy rebounded in the second quarter. The gain follows last year’s 65% drop.
Hong Kong and China stocks rose on Friday, regaining their composure from Wednesday’s steep sell-off, after the central bank reassured investors it would stick to a loose monetary policy and would not curb lending.
Both markets recorded another month of hefty gains in July, the seventh successive monthly gain for Shanghai and the fifth winning month for Hong Kong, fuelled by positive earnings momentum and analyst upgrades.