Interview Highlights with Jim Rogers, co-founder of the Quantum Fund with George Soros. Mr. Rogers correctly caught the bottom of the commodities market in 1999. He forecasts the commodities bull market will run for at least 9 more years, possibly through 2020.
His advice to us? Get out of US Dollars. We asked him what would happen to the US dollar. He responded by saying, "The same thing that happened to sterling; the same thing that happened with the guilder. You know, the guilder used to be a great international currency. The peso used to be a great international currency. I mean, you don't see people using guilders anymore to settle their international debts or finance their wars. They decline and sort of disappear from the world stage."
Below are highlights from a recent interview, we conducted with him by telephone at his home in Singapore:
1. "The bull market is not over yet. The bull market has years to go, as far as I can see."
2. "I see a great future for uranium and nuclear power. Until somebody brings a lot of new uranium onstream, the surprise will be how high the price of uranium stays and how high it eventually goes."
3. "I've sold out of every emerging market in the world, and some of them I've owned for 15 or 20 years. I'm investing in China, because China in my view is the next great country in the world."
4. "It takes a long time to bring new production on stream for commodities. It's not like bringing in new shares of a dot com or something, where we go into the garage and start a company and next week we sell stock. Mines and oil fields are much different animals."
5. "Eventually, people change their consumption habits. Eventually new supplies come to market. And eventually, the bull markets have always ended. But, it takes a long, long, long time for that to happen."
6. "Everybody's driving the commodities boom because demand everywhere is going up: in the U.S., Europe, everywhere. Everybody's been growing, whether it comes from the Philippines, India or the U.S. Supply is under terrible stress. There hasn't been much investment in productive capacity in any commodity in the past 25 years."
7. "You will see people using methane (gas), using lots of viable alternatives as the price of energy stays up and goes higher and higher."
James Finch contributes to StockInterview.com and other publications. To read the entire interview with Jim Rogers, please visit StockInterview's website at http://www.stockinterview.com
