Monday, November 23, 2015

Jim Rogers owns FXI, ASHR, AGF.AU

Barrons Magazine: In an interview with my colleague Kopin Tan in 2013 you said that you wouldn’t buy China’s stock market “unless it collapses.” This summer, did it collapse enough to get you interested, and are you still a buyer?

Jim Rogers: In July 2015, I started buying on the collapse. There were a couple of days where it was down very big on a day. Well I was one of the buyers on those days. I haven’t been terribly active since.

Barrons Magazine: And you are using ETFs to invest in China?

Jim Rogers: I own FXI [iShares China Large-Cap ETF] and ASHR [Deutsche X-trackers Harvest CSI300 ETF], as well as some based in Singapore. But the best investment might be AMP Capital China Ord (ticker: AGF.AU ) units listed in Australia, which is a closed-end fund trading at a big discount.

Barrons Magazine: Do you have any short positions right now that you’d care to share?

Jim Rogers: I have been shorting U.S. junk bonds by going long the Proshares Short High Yield ( SJB ) and I’m shorting U.S. tech stocks through the ProShares Ultrashort QQQ ( QID ).

Barrons Magazine: But if you think U.S. stocks have one last leg up, why are you shorting these risk-on assets that should be helped by a rising market?

Jim Rogers: Well, one has to be hedged in case one is wrong.

via barrons