Jim Rogers on N. Korea as investment destination, global economy, and where the future lies


now Jim Rogers needs little introduction
he’s the man behind the Quantum Fund at one that saw a gain of forty two hundred
percent in ten years the successful hedge funds of all time
Jim is an investing legend best-selling author and a good Ness world record
holder so when he speaks smart investors lessons so we’re here to listen to him
this morning live in the studio with me as mr. Jim Rogers Jim a very well very
welcome to you I am delighted to be here but we don’t need all that introduction
yeah if I remember correctly you were one of the very first in the world and
you told me this in person in your home in Singapore that to pin for North Korea
as a very attractive investment destination now that was more than four
years ago Dina Croatian talks have not been going so successfully and you know
business opportunities and investment opportunities now do they look as
hopeful and optimistic for you how are you coping with the situation well first
of all I’m an American so I’m not allowed to invest in North Korea so I’m
coping the same way I always have but it’s continuing to happen they’re
continuing to open up more and more China wants it Russia wants it North
Korea wants it south it’s going to happen it will be bumps along the way
Japan doesn’t want it because Europe and doesn’t want to have to compete with an
open Korea because they know they cannot everybody wants it it’s going to happen
don’t worry but at the moment there’s nothing I can do except watch because
I’m a citizen of the land of the free and in the land of the free we’re not
very free now what is the some key opportunities that you see in North
Korea well once it opens everything I mean
going on they don’t have anything they don’t have
ties they don’t have chairs they don’t you know they don’t have electricity so
anything you can do you can go there and make a fortune
tourism is going to be a fabulous fabulous opportunity for everybody the
Korean Peninsula has not been on the world tourism map ever it will be again
and everybody will want to come and they will see the sights the beaches the
temples the food I don’t like the food but a lot of people like the food I love
the food but I know you load the for your Korean I love fried silkworms
fried silkworms one of my favorite food in the whole
world all right now you recently raised a red flag for the Japanese economy you
offloaded all your Japanese shares now why is that how do you foresee this
trade flare between South Korea Japan impacting at the economies first of all
I see it as total absurdity what is Korea and Japan doing you’re supposed to
be working together to beget yourselves all prosperous and happy and rich I
don’t I cannot understand it but I’m not Korean I’m not Japan so you don’t have
to listen to me it certainly is causing things to slow
down things are slowing down in the world that just exacerbates the problem
here and then Northeast Asia so why have you offloaded all your shares all right
they went up a whole lot I owned them for several years they’ve gone up a
whole lot but it’s coming to the end you know you can only print so much money
you can only waste so much money spending money trying to buy shares and
buy bonds so I sold I mean Japan has some serious problems I just published a
book in Japan they got serious problems coming up in my book yeah I say that
Japan is peaking and declining and Korea’s on the rise I think that’s why I
did so well oh is that right yeah yeah Japanese don’t like the Koreans Koreans
don’t like the Japanese you’re crazy both of you well now Jim so you said
that Korea is on the rise how hopeful are you about the South Korean economy
or the economy of the Korean Peninsula because you know a mythical boat you
gave a downturn South Korea’s economy has been slowing
as well at the moment South Korea’s having a problem everybody is because
trade wars there are many many reasons that the world is starting to slow down
and we’re going to have a very very serious problem in the next year or two
but once the 38th parallel opens this is gonna be the most thing hon bondo you
know hon bun dough hon bun dough is gonna be the most exciting part of the
world for the next 10 or 20 years you have everything going for you once the
38th parallel opens in the meantime things are not gonna be so good well I
guess a million billion dollars question is when is it going to open up that
there should watch Ari on TV asking me I know everything I know I’ll
get from our young TV for goodness sakes absolutely now you not only understand
but really you can read between the boom and the bust of the global business
cycle amid the escalating trade tensions a what should we we be up racing for in
the next couple of months I mean what should we be on the lookout for well
you’re gonna start seeing bankruptcies you’re even gonna see bankruptcies in
China which is gonna shock a lot of people including me and I just told you
it’s coming but there’s a lot of debt 2008 we had a big problem because of too
much debt since then my gosh you know the debt is skyrocketed everywhere and
so we’re gonna start seeing bankruptcies and interest rates rise we’re gonna see
collapse it’s not gonna be fun you should be very worried I should be
worried yes but China is somewhere that you’ve bet highly on oh yeah no I moved
to Asia because of China my children speak Mandarin because of China no no
it’s not a great that yeah but that doesn’t mean China won’t have problems
America became the most successful country in the 20th century but along
the way we had 15 depressions we had horrible civil war with no human rights
massacres in the streets but still we became extremely exciting and prosperous
China have problems don’t worry they’re coming now what are two or three things
that make you take notice of an investment opportunity I mean anything
from valuations under performance or bath headlines like I notice one thing
disasters I used to just read the disasters oh my gosh that’s ha but now
you know that the Chinese I know you have a way in in Japan there’s word Kiki
which means disaster an opportunity to the same in Chinese its way gee I don’t
know what the word in Korea is means a disaster an opportunity you know you’ve
been around a lot longer than we have we don’t have the word in English so when I
see a disaster now I learned to say ah ok this is horrible and terrible but
there’s an opportunity here somewhere so that’s one of the first places when I
see an area on TV I see everybody think falling apart then I start to say ok
what do I do next so with disaster
comes an opportunity always the Asians learned that centuries ago and that’s
why you all have words for it we don’t have that we don’t have that word in
English now a to a legendary investor like yourself what market sectors of
Technology are you right now jump out at you right now I mean agriculture
speaking well Agri Russia’s hated Russia’s cheap Agriculture’s hated and
close been declined for a long remember how’d you say the word I said way gee
Wiggy Wiggy Wiggy remember Wiggy when there’s a disaster
there’s an opportunity so remember we learn about Korean tourism because it’s
going to be a gigantic business in the next few years all of asian tourism
because now the chinese can travel they can get passports easily they can take
money out of the card no agent or is an especially Korean tourism you at the
right place aren’t you also investing in graphene disease yes yes no I mean I
have interest in a graphics Korean graphene company graphene according to
the scientists is gonna be as big as the Internet I mean it’s astonishing what
the scientists say not me I’m not a scientist but graphic I have investments
in Korean graphene companies Korea’s one of the leaders in the world for this new
this new science and by the way North Korea’s graphite mines South Korea has
the technology and the ability so what’s the 38th parallel there’s going to be
many many opportunities in HoN bondo so you see opportunity there as well as
operation there are just artists there is yes you have to find the right
company I hope I found the right companies but who knows now um so
finally no this one is for all the aspiring to be Jim Rogers out there when
you launch your quantum fund in the 1970 obviously the world was a completely
different one you didn’t have the search engines or there you know researching
internets or whatnot for the assets and the you know the buying assets that we
do right now but you know if you are starting out in the world in today’s
world would you start out with a hedge fund what kind of advice do you have for
all my crises to do what you love whatever
is the financial world is not going to be a great place in the next 10 or 20
years it’s gonna be one of the worst places if you want to go where the
action is learn to drive a tractor farming is going to be great in the next
20 years in the world but if you don’t like farming don’t go and you go up or
go to a hedge fund I’m telling you hedge funds and finance
is gonna be in decline but if you look but when I went it was in decline but I
loved it so I went so do what you love don’t listen to me don’t listen to the
TV don’t listen to your teachers don’t listen to your parents do what you love
listen to your heart listen to your soul yes Bojan Rogers an investment legend
Indiana Jones of Finance best-selling author there are many ways to explain
you but for me it’s one of my favorite interviews many many things here for
coming under the studio at such an early hour and free insights today miss moon I
love to come to Arianna be with you thank you thank you

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