Stocks in Sri Lanka are the only equities worth buying at the moment.
Selling Chinese shares in 2009 would be like selling U.S. stocks in 1909.
The idea that anybody would lend money to the U.S. government for 30 years at 3 or 4 or 5 or 6 percent interest is mind-boggling to me.
Wenzel,
ReplyDeleteI really find a lot of what Rogers says lately to be so generalized as to be almost useless in terms of insight.
"Selling Chinese stocks..." so, is he taking into consideration relative valuations? And what about the fact that a lot of people have been pointing to evidence of massive accounting fraud and bubbliciousness in China? Why hold stocks through that mess?
Is he suggesting buy-and-hold? For everyone, or for "senior citizens" like him?
The man made it rich in commodities. Now he doesn't even seem to trade them (despite writing books arguing that everyone else should) and he spends all his time talking up equities, something he knows comparitively "nothing" about.
I don't mean this to knock JR or criticize him as if he's a dunce and I know better... neither of those are true. He's quite smart and interesting to listen to (at least once... he can get 'talking point memoish' after repeat appearances). But some of this stuff just seems like it could be said by anyone, for any reason, and there isn't much substance to it either way.
Def agree with the US bonds bit, though. Will the US gov even be around in 30 yrs?