Good Morning John...
Do you have any opinions on Jim Rogers choice ?
APRIL 27, 2001 VOL.27 NO.16
On The Road Again
After driving through 90 countries, Wall St. guru Jim Rogers says China's the place to be
So what hidden investment gems have you discovered?
After my trip more than 10 years ago, I was very enthusiastic about Africa. All my enthusiasm is now gone. There are a lot of terrible things happening — tribal disputes, widespread corruption, lack of education, to name a few. It's a big mess. China is the opposite of Africa. My previous trip there was soon after the Tiananmen incident [in 1989], so I was fairly pessimistic about the future. Now I'm very bullish. I've been investing in "B" shares and they've done very well — 200% to 300% up since I began buying. The 21st century will not be Asia's Century, but China's Century. I tell Americans that the best thing they can do today in terms of investments is to teach their children about China.
How about India?
There are great things happening in India, but in very small pockets. In China, there are great things happening all across the country. The phones work, electricity works, the Internet works. You can get anything you want if you're willing to pay for it. In India you can't get [a lot of things] even if you're willing to pay.
I also like Korea, but in the long run a lot would depend on how things turn out on unification with the North. The one thing we noticed about Korea was a huge shortage of young schoolgirls there. That could create social problems, but also investment opportunities. Any company that sells to young women would do well in a few years because girls will be pampered. I would bet on health clubs, fashion retailers, beauty parlors. I like Thailand, though the Thais got far ahead of themselves and are now undergoing the pain. But the country has an energetic people and they'll bounce back.
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