Record-High Stock Markets Prompt Billionaire Jim Rogers to Sell Everything
Veteran investor Jim Rogers recently shared his views on the stock market, inflation, and gold in an interview with Felix Prehn.
Rogers, who co-founded the Quantum Fund with George Soros in 1973, stated that he sold most of his stocks due to record-high prices worldwide. He now has a significant amount of cash in US dollars and a small number of shares in two overseas markets.
'I do not want anybody to listen to me and invest in what I invest in. I want them to invest in what they themselves know,' Rogers said, emphasizing the importance of individual knowledge over following investment advice from others.
Rogers also shared his approach to investing, which involves selling when there's hysteria in the stock markets and buying when despair dominates. He believes that high prices cause excitement among shareholders, while low prices indicate that others have put their money elsewhere.