Post date: May 20, 2013 1:49:22 PM
Reuters Market Video - ANCHOR,
The Nikkei is up 70% over the past year, how are you playing Japan?
JIM ROGERS, CHAIRMAN, ROGERS HOLDINGS:
Last time or the last few times we've spoken, I told you I bought Japan during the tsunami and then I bought more when Mr. Abe said he was going to print unlimited amounts of money. I sold some of my Japanese shares recently but I'm still long Japan. It's not good what he's doing but it's certainly good for the stock market.ANCHOR,
What are you long in Japan?
JIM ROGERS, CHAIRMAN, ROGERS HOLDINGS:
I long mainly the index, I own some shares of some companies that I just do not get into because then somebody will buy them. But plenty of plays-
ANCHOR,
Which companies, Jim, which companies?
JIM ROGERS, CHAIRMAN, ROGERS HOLDINGS:
There are plenty of companies that one can buy in Japan. Many people are benefiting from the collapse of the Yen. You know, the Yen is down nearly 30% in the last six months. So this is a big, big shock. It's rare that a currency goes down, moves 30% at all. But in six months, this is having huge ramifications what's going on. The Australian Dollar's down 6% or 7% in a couple of weeks. I mean, this kind of moves, you do not see in currency markets normally.
ANCHOR,
How long is the rally going to last?
JIM ROGERS, CHAIRMAN, ROGERS HOLDINGS:
What, the Japanese rally? Mr. Abe says he's going to put unlimited amounts of money until, you know, forever. You hear him say it. So it's certainly going to last as long as they're printing this staggering amount of money. Eventually, if the market is going to bring them to their senses, they will come to their sense. But, you know, Elizabeth, right now, for the only time in recorded history, everybody is doing it.America is doing it, Japan, England, Europe, everybody's printing money and this has never happened in world history.