Renowned investor Jim Rogers, author of Street Smarts: Adventures on the Road and in the Markets sold his US stocks and changed them for Chinese equities, he told at Yicai Global. For him, the Belt and Road initiative fits into his optimistic view on China’ economy, he adds.
China’s market has been bottoming out, while US shares have reached a record high, Rogers said at a recent investment forum in Beijing, according to a report in China Business Journal. The billionaire investor buys on the dip, he added.
This is not the first time that Rogers has bought into a market trough. He invested in a large number of Austrian securities in 1984 when the country’s bourse was reaching its lowest point. The market sprang back to life a year later, surging 145 percent and handing Rogers a tidy return.
The 76-year-old, who co-founded the Quantum Fund with George Soros in 1970, has a reputation for being a visionary international investor and one of US’ most successful securities brokers.
The Belt and Road initiative is another source of his confidence in the Chinese market. The project will be vital to anyone who wants to make money, Rogers said, adding that he will closely monitor it for business and investment opportunities.
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