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Jim Rogers: China Slowdown Means Opportunity

Thursday, 22 Mar 2012 | 5:57 PM ET

While concerns about an economic slowdown in China took its toll on stocks Thursday, legendary investor Jim Rogers saw opportunity.

“I’m delighted to see it,” he said on “Fast Money.” “They need to do that. It’ll be good for China, it’ll be good for the world, and it will present opportunities for all of us. I hope that the Chinese market collapses so I can buy Chinese shares.”

Rogers said that China had been trying to slow its economy for years, as well as get its real estate bubble under control.

Rogers: 'I Hope That the Chinese Market Collapses So I Can Buy Shares'
Jim Rogers, Rogers Holdings CEO & chairman, explains his bullish outlook on grains and China; how he views a global slowdown as a buying opportunity; and why he would buy gold on a dip.

But it’s not just China that Rogers has his eye on.

“I certainly expect the world to have more of a slowdown in the next year or two, and that will be an opportunity for all of us,” he said.

While Rogers said he was long commodities, he also had a safety valve.

“Right now I’m short emerging market stocks as a potential hedge,” he said.

However, one emerging market play on the investor’s radar was Myanmar, formerly known as Burma.

“Fifty years ago, it was the richest country in Asia. Now, it’s the poorest because they closed off. But they’re just now opening up, just as China did 33, 34 years ago,” he said. “I find it wildly exciting.”

A ban on U.S. citizens from investing kept Rogers out of that market — for now.

“There’s nothing I can do right now,” he said.

Rogers also said he was shorting long-term U.S. government bonds, but conceded that his “timing has not been very good.”

Rogers also remained long gold and silver.

At $1,600, gold would be a buy, he said, adding that he would increase his position even more at $1,500 per ounce.

“If it got down to $1,200 or $1,300 I hope I’m smart enough to buy a lot more,” he said, noting that it was not a prediction.

“Gold is going to go much higher — and silver — over the next decade,” he said.

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Trader disclosure: On March 22, 2012, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s "Fast Money" were owned by the "Fast Money" traders: Joe Terranova is long VRTS; Joe Terranova is long NXPI; Joe Terranova is long IBM; Joe Terranova is long MCD; Joe Terranova is long EMC; Joe Terranova is long MSFT; Joe Terranova is long JOY; Joe Terranova is long OXY; Joe Terranova is long LQD; Joe Terranova is long POT; Joe Terranova is long TBT; Joe Terranova is short APRIL GOLD FUTURES; Joe Terranova is short MAY SILVER FUTURES; Guy Adami is long C; Guy Adami is long GS; Guy Adami is long INTC; Guy Adami is long AGU; Guy Adami is long MSFT; Guy Adami is long NUE; Guy Adami is long BTC; Anthony Scaramucci is long AAPL; Anthony Scaramucci is long BAC; Anthony Scaramucci is long C; Anthony Scaramucci is long IBM; Keith McCullough is long xlu; Jim Rogers is long GRAINS; Jim Rogers is long CHINA; Jim Rogers is long SILVER; Jim Rogers is long GOLD; Doug Kass is long TBT; Doug Kass is long TBT CALLS; Doug Kass is long ETFC; Doug Kass is long SCHW; Doug Kass is long LOW; Doug Kass is long BRK.B

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