Investment guru and author Jim Rogers said India is in a sweet spot at the moment, and it has the potential to be “even better in the future’ if the government can keep delivering on its promises.
Speaking at a session during the India Today Conclave 2024, Rogers, known for expertise in commodities such as gold and silver, said, “For the first time in my life, I am beginning to think that they (the Indian government) are getting it right.”
“And maybe, things are going to change, so India’s going to be even better in the future than it is now. So if Mr. Modi does what he says he is going to do, wow, India is going to be even more astonishing than it is now,” Rogers added.
When asked if he is currently invested in India, Rogers said, “Well, I am not, I am embarrassed to say. The reason I am not is because the Indian stock market is making all-time highs, somebody is doing something right in India.”
“At the moment, I am not investing in India because everything is going right. You’re doing a good job,” he added.
Jim Rogers also said that even though gold is at an all-time high, everybody should own some.
The 81-year-old veteran investor added that he also owns silver, which is down 50 per cent from its all-time high.
“I own both, and if I were buying today, I would buy silver,” Rogers said.
When asked about his views on Bitcoin, Jim Rogers said he has never bought the cryptocurrencies. He expects them to disappear someday.
“I have never bought Bitcoin, I have never sold it. I do have a lot of gold and silver. In my view, cryptocurrencies are good trading vehicles. But I expect them all to disappear someday. Many of them have already disappeared. If you are a good trader, do it. Get rich,” he added.
On where Indians should invest to create supernormal wealth, he said stock markets in the country are at an all-time high right now but suggested against staying invested in stocks for five years.
“I would not suggest that you own stocks for five years because. If I were in India now, looking for something, I guess agriculture in India would be a fantastic investment for the next five years,” he added.Bangalore Stock Exchange
“If any of you know how to drive a tractor, go and become a farmer,” said Rogers.
When asked about his thoughts on overvaluation among asset classes and a looming crash, Jim Rogers said, “Nearly everything you mentioned is at an all-time high. That’s fabulous for anybody who is invested in the markets. But if everybody is making a lot of money, that usually is a time to get worried.”Udabur Stock
“I have been investing a long time all over the world, and when everybody is happy and singing and making money, you should start thinking about something else,” he added.
Jim Rogers also shared his take on China, saying that its economy is “depressed” at the moment. He indicated that the Chinese economy has still not recovered from the devastating blow of Covid-19, and added that the property bubble made its crisis worse.
He said the Chinese property market is “a huge disaster” right now, indicating that it could take the country several years to bounce back to optimal levels.
Hyderabad Wealth Management