We Give us a sense of the kind of moves we are looking at or that we have made many updates in the past week regarding trade deals with the main global economy. Do you think where is the market leadership now or is there a little more clarity on the trade front than the previous?
Jim Rogers: Well, yesterday U.S. The market has reached all-time high, so it is moving. I’ve sold everything. I’m very dubious about this rally. I see signs that we are facing problems – though they are not here yet. I sold too soon. But I didn’t do it for the first time. I’m very good at selling too early.
But when are you planning to buy again? More importantly, which areas or regions are you interested right now?
Jim Rogers: Well, the situation is that markets around the world are scoring new. Everyone has a good time. In my experience, when everyone is enjoying themselves, you should start worrying. So yes, I’m worried, but clearly, I’m early. I’ve been at the earliest – this time is not different. So I don’t think I’m the right person to ask now. I won’t buy this time – I sell, though the market suggests that I am wrong.
Help understand the logic behind your decision to sell most of your holdings, especially because the market is the highest. For example, trade deals with a large economy like India have not yet been finalized. If everything goes well, do you think this can continue uptrend? And what are the potential problems you expect?
Jim Rogers: For the first time in my investment career, I believe that the people of Delhi now really understand that prosperity and success are good. For decades, they have said those things, but they really don’t mean it. Now, something has changed – India recognizes the need for success and economic development. I’m extremely optimistic. In fact, I am now more optimistic about India, because I have been in the past – because I believe the policy makers in Delhi eventually get it.
Living events
It takes an interesting. But if you are very optimistic, why are you still not buying in Indian markets? Is it due to high evaluation? If the markets are right – say by 10% or 15% – then you will be interested?
Jim Rogers: I have no idea what the magical number is. I’m not good in it. If the Indian market starts to fall and there is real fear and disappointment, I can only think of coming back. It happens 8% down or 28% down – I don’t know. I just hope that I will recognize the signs when there is enough danger to give a warrant again.
Many foreign investors seem to share your spirit. The type of FII flow we have seen from Indian equity this past week has been quite significant. On the flip side, the domestic confidence looks strong and helps to balance the flow. Do you think where is the leadership of Indian markets in view of this contradiction?
Jim Rogers: Again, I will admit that I am not good in market timing or short -term trade. The success I have had has come from finding a devaluation wealth and holding them for a very long time. India will be one of the greatest countries of the world again. It’s been in the past, and I believe it will be again. So I just hope that if the Indian market falls significantly – whatever the reason – I will be smart enough to buy.
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