"I've Sold All U.S. Stocks!"

On August 1, legendary investor Jim Rogers stated at the "Global Chinese Wealth Management and Inheritance" summit hosted by Noah Holdings in Singapore that he currently holds stocks from only two countries worldwide, with China being one of them, and has sold all his U.S. stocks. He believes the next U.S. crisis will be the worst in his lifetime.
"China will be the next major force on the global stage," Rogers said, adding that whether people agree or not, China is rising and will become powerful.

Born in 1942, Jim Rogers is a legendary investor and traveler. In 1970, he co-founded the Quantum Fund with George Soros. From 1973 to 1980, the fund achieved a cumulative return of 4,200%, compared to the S&P 500's 47% gain during the same period. In 1998, he created the Rogers International Commodity Index, which quadrupled over the next decade while the S&P 500 rose only about 40%. He also holds multiple Guinness World Records for his motorcycle journeys around the globe.

Bullish on China's Tourism and More

Rogers said he holds stocks across multiple Chinese sectors, particularly optimistic about tourism. "Every industry in China has potential, especially tourism. For centuries, Chinese people rarely traveled abroad. Now, they can explore the world. They are eager to see it, and foreigners also want to understand China. Tourism and hospitality have bright prospects."

He acknowledged that while China's stock market has underperformed in recent years, the country's long-term outlook remains strong, with the government taking steps to support economic growth.

Rogers highlighted the significance of China's Belt and Road Initiative (BRI), noting how railways historically transformed nations and cities. Similarly, he believes the BRI will reshape the world.

On asset allocation, Rogers revealed he holds gold and silver, which have historically served as safe havens during crises. Given gold's record-high prices, he is not currently buying more but sees silver as undervalued relative to historical levels and continues to accumulate it. He added that if gold prices decline, he would increase his holdings.

Reflecting on China's transformation, Rogers remarked, "When I first visited China in 1984, it was a completely different world. China will be the most important country of the 21st century—it already is in many areas. People should ensure their children and grandchildren learn Mandarin to prepare for the future."