Legendary investor Jim Rogers shares the countries, sectors, stocks, and markets he's investing in these days and the rationale behind his decisions.

SPEAKER 1:  Thank you for joining us.  I am talking about the stock market with Jim Rogers today.  Hi Jim, and thanks for joining me.

JIM ROGERS:  I am delighted to be here Nancy.

SPEAKER 1:  So, do you think the bull is losing steam?

JIM ROGERS:  We have had a big move for several months now and that has to come to an end some time. There are plenty of things that could cause it.  I mean the Middle East might blow up into war, the government may stop printing as much money.  There are plenty of reasons that stocks could have a correction and I certainly fully expect the correction to continue for a while.  Whether the bull market is over, this particular bull market is over, I don’t have a clue.

SPEAKER 1:  Are there any particular sectors that you like right now?  Are you buying anything?  US stocks?

JIM ROGERS:  Not buying anything in the US.  I mean, there are some sectors that are better than others.  Agriculture, I am optimistic about.  I own some airlines who are worldwide.  Russia, I am trying to find things to invest in, but for the most part, stock markets around the world have been going through the roof and I don’t like to buy things when they have been going through the roof.

SPEAKER 1:  That’s right.

JIM ROGERS:  I hope your parents taught you to buy low and sell high.

SPEAKER 1:  Yes they did, I really try to do that.

JIM ROGERS:  Well, good, good, good, good. 

SPEAKER 1:              But what about Europe?  Now, recently, there was some good news out of Europe finally.  People said that maybe the recession is over with.  What is your feeling?

JIM ROGERS:  That is good news when somebody says maybe the recession is over.

SPEAKER 1:              Well, you know, it is other than we are in a terrible recession, right.  You have a little bit of positivity. 

JIM ROGERS:  The German stock market has been making all-time highs.  I mean various stock markets in Europe have been going through the roof so you are not the first to know that things have been getting better in Europe.  No, I, anyway, am not buying anything in Europe.  I might buy some defense stocks or airlines, I own airlines, but I am not buying.  Russia, I mentioned Russia I am thinking about buying but other than that, I don’t have much interest in Europe.

SPEAKER 1:  What about China?

JIM ROGERS:  Well, if China, if the market collapses, then I would certainly be keen to buy Chinese shares but the market isn’t collapsing.  It has been going like this for a while.  My view of China is whenever it collapses, I buy shares for my daughters and put them aside, and I hope that, you know, in 50 years, my daughters say you must have been a smart old man.  Look at all of these shares we have.  Gosh.

SPEAKER 1:  Exactly, exactly.

JIM ROGERS:  So that is my plan for China with my own investments.

SPEAKER 1:              Do you buy individual stocks there?

JIM ROGERS:  In China, yes, yes, yes, yes, only individual stocks and the currency, the Renminbi whenever I can.  You can’t just pick up the phone and buy a lot of Renminbi like you could euros or Australian dollars or something but I do buy the Renminbi when I can.

SPEAKER 1:              Anything in Japan?

JIM ROGERS:  No, I sold Japan.  I bought Japan during the tsunami but I sold Japan in May.  I am not sure I didn’t sell too soon but I’m out of the currency and out of the stocks so I have no positions in Japan at the moment.

SPEAKER 1:  Well thanks for being here.

JIM ROGERS:  It is my pleasure, my delight.

SPEAKER 1:              And thank you for joining us at the MoneyShow.com video network.