Hindustan Times ST (Jaipur)
Exited India too soon, but won’t enter now: Rogers
One of the world’s best known investment gurus, Jim Rogers of Rogers Holdings and Beeland Interests said he may have been too hasty in exiting India in 2015, but he won’t enter it now when the markets are at record highs. He says he was surprised that the government managed to get the legislation for the Goods and Services Tax through. “It is a historic move as this has been a contentious issue among politicians for several years.
Rogers said that in addition to GST, he has also been tracking the Indian stock market, the best performing of the world’s 10 largest stock markets thus far in 2017. “I see that the markets are at an all-time high, currency is going up – they are making new highs without me, and that does not make me happy.”
Keen as he is to enter India, Rogers says he will wait because it doesn’t make sense to enter a market when it is on a high. “I don’t want to jump on to a moving train. When you jump on to a moving train, you’ll get hurt.”
Rogers, a hedge fund manager whose investments serve as leads for many other investors, has long been an India bear. In 2014, though, soon after NDA came to power, he changed his tune.
“First I was interested in India because of his (Modi’s) record and what he said he planned to do... But he (Modi) did nothing much for two years, and I sold. Unfortunately, I sold too soon,” he said.