It’s a been a long-term adage in the investment world that you buy when there’s a disaster, because if you buy when everybody else is panicking and dumping, you’re probably going to make a lot of money in the end – unless the world comes to an end.
I don’t suspect that Russia is going to come to an end, Russia has assets, Russia has lots of foreign currency in reserves as well, so when I saw Russia collapsing I thought I should buy, and I did buy.
I’ve been becoming more optimistic about Russia over the past year or two anyway, because you do have big reserves and there are positive changes taking place in Russia as far as I’m concerned, so I hope you buy low and sell high – that’s what I’m trying to do.
Jim Rogers is a smart investor who co-founded the Quantum Fund with George Soros in 1973. By 1983 the fund gained more than 4000 percent.