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Stocks on a Fed high fail to impress Jim Rogers
by JF Fri 14 Jun 2013, 11:07
HONG KONG: Investor Jim Rogers said he's not optimistic on global stocks given central bank stimulus measures are providing an "artificial" boost to prices.
"Quantitative easing is going to end," Rogers, chairman of Singapore-basedRogers Holdings, said in an interview inKuala Lumpur today. "Either the central bankers are going to wake up to reality and stop this insanity of printing money all over the world or the market is going to say 'we don't want your paper money' anymore."
Equities around the world plunged this month after Federal Reserve Chairman Ben S Bernanke said May 22 US policy makers could scale back debt purchases that have driven demand for higher yielding assets.
The Bank of Japan refrained from adding to its stimulus this week, contributing to a 3.4 per cent slide in the Nikkei 225 Stock Average. The MSCI World Index dropped 1.4 per cent.
Rogers said he sold Japanese shares in May. He's buying the euro and Swiss franc, and selling US and Australian dollars given the European Central Bank is printing less money than its major counterparts. On commodities, Rogers sees opportunities in items with "depressed" prices, such as sugar.
Rogers, speaking at a conference in Kuala Lumpur earlier on Thursday, said he wasn't buying gold yet as the market needed a correction and hasn't reached a firm bottom.
Bullion has lost 17 per cent in 2013, with prices reaching a two-year low of $1,321.95 on April 16 after rallying for the past 12 years in the longest bull run in at least nine decades. "I would start by looking at things that are depressed rather than things that are going through the roof," Rogers said.
"Quantitative easing is going to end," Rogers, chairman of Singapore-basedRogers Holdings, said in an interview inKuala Lumpur today. "Either the central bankers are going to wake up to reality and stop this insanity of printing money all over the world or the market is going to say 'we don't want your paper money' anymore."
Equities around the world plunged this month after Federal Reserve Chairman Ben S Bernanke said May 22 US policy makers could scale back debt purchases that have driven demand for higher yielding assets.
The Bank of Japan refrained from adding to its stimulus this week, contributing to a 3.4 per cent slide in the Nikkei 225 Stock Average. The MSCI World Index dropped 1.4 per cent.
Rogers said he sold Japanese shares in May. He's buying the euro and Swiss franc, and selling US and Australian dollars given the European Central Bank is printing less money than its major counterparts. On commodities, Rogers sees opportunities in items with "depressed" prices, such as sugar.
Rogers, speaking at a conference in Kuala Lumpur earlier on Thursday, said he wasn't buying gold yet as the market needed a correction and hasn't reached a firm bottom.
Bullion has lost 17 per cent in 2013, with prices reaching a two-year low of $1,321.95 on April 16 after rallying for the past 12 years in the longest bull run in at least nine decades. "I would start by looking at things that are depressed rather than things that are going through the roof," Rogers said.
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Re: Stocks on a Fed high fail to impress Jim Rogers
by Cals Fri 14 Jun 2013, 13:24
Rogers said he sold Japanese shares in May. He's buying the euro and Swiss franc, and selling US and Australian dollars given the European Central Bank is printing less money than its major counterparts. On commodities, Rogers sees opportunities in items with "depressed" prices, such as sugar.
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