Rogers e Young cautelosos com China

Jim Rogers is not buying Chinese shares because he doesn't want to 'jump on a speeding train'
Source: BI-ME , Author: BI-ME staff
Posted: Fri August 7, 2009 8:15 pm
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INTERNATIONAL. Legendary global investor and chairman of Singapore-based Rogers Holdings, Jim Rogers said he isn’t selling his Chinese shares even after recent gains because of the nation’s prospects. Rogers is neither buying more because he doesn’t want to “jump on a speeding train,” he said.

Speaking to Bloomberg in Singapore on Thursday Rogers said: “China is going to be the great success story of the 21st century, just as America was in the 20th century."

“Selling China in 2009 would be like selling America in 1909. You might look good for a month or a year, or two years or three years, but after 50 or 80 years, you’d look like an idiot,” Rogers said.

Rogers believes the Chinese government spends money far more effectively than the US administration.

“They’re doing things which are going to make them more competitive,” as opposed to presidents Obama and Bush, who “were just spending on make-work projects which are not going to do much good in the long term,” Rogers says.

Global stocks are now fully priced and Chinese shares have entered a “bubble", Aberdeen Asset Management's Hugh Young said in a Bloomberg interview.

Gains in equities from this year’s lows don’t reflect the outlook for a slow recovery from the global recession, said Young, who helps oversee the equivalent of $220 billion as Aberdeen’s Asian managing director. In China, recent initial share offerings signal a “classic market top,” he added.

“It’s a sharp liquidity-fueled rally,” Young said in an interview in Singapore. “The easy money is over. Investors should be darned cautious of what is going on because it is out of sync with the underlying reality and more a reflection of government stimulation.”

Signs that central banks will stop easing monetary policy may prompt a slump in share prices, Young said.

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Jim Rogers is not buying Chinese shares because he doesn't want to 'jump on a speeding train'