Jim Rogers, an international prominent fund manager, said at the Shanghai Global Chinese Financial Forum yesterday that he did not fear a bubble burst for Chinese stocks.
But Rogers, as a veteran investor in the Chinese stock market since 1999, has changed his mind about the outlook of Chinese stocks this year. Back in January, he predicted a fall of 30 percent only to advocate a very bright future now.
In Shanghai, Rogers commented that western shares were very expensive in terms of valuation and that Asia was a breeding ground for investment opportunities. "I'm not selling my Chinese shares. As I said, I bought more of them last week," he said, "If the market triples again in the next year I would probably have to sell my Chinese shares."
He also pointed out that certain Chinese shares would soon collapse due to their insane pricing. "The stock market has gone through the roof over the past three years. That's always a dangerous sign," he warned. "If you are new to the stock market, you may be misled into thinking this is how it always works."
For more details, please read the full story in Chinese. (http://www.dfdaily.com/node2/node27/node260/userobject1ai17889.shtml)
(China.org.cn July 27 2007)