Great fortunes will be made in agriculture in the coming years, millionaire investor Jim Rogers told CNBC
Buying distressed commodities is a better way to make money than investing in stocks, according to millionaire investor Jim Rogers
“The fundamentals for agriculture have gotten better,” Rogers said. “The inventories are now at the lowest they’ve been in decades, not in years.”
“Sometimes in the next few years we’re going to have very serious shortages of food everywhere in the world and prices are going to go through the roof.”
According to Rogers, the problems of the world are not yet behind us; which is why he believes that commodities are likely to win in both the optimistic and the pessimistic scenario.
"If the world economy gets better, commodities prices will rise as a result of increased demand caused by shortages, while if the world economy continues to remain weak, central banks will keep printing money and commodities will be used as a hedge against inflation", Rogers explained.
Jim Rogers has told students in the past to scrap career plans for Wall Street or the City, London’s financial district, and to study agriculture and mining instead.
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