By Yvonne Cheong, Channel NewsAsia | Posted: 05 July 2007 1931 hrs
SINGAPORE : The Singapore dollar is among the strongest currencies in the world and worth investing in, said investment guru Jim Rogers, who co-founded the Quantum Fund with billionaire George Soros.
The pair built the Quantum Fund into one of the first and most successful hedge funds in the world.
He was speaking at the Nomura Asian Equity Forum on Thursday.
Nicknamed the "Indiana Jones of Finance", Rogers grabbed the attention of his audience by opening his speech with his Guinness Record trip around the world with his wife, after retiring at age 37.
Rogers also took the audience round the investing world, pointing west towards a depreciating US currency, which he believes may lose its status as the world's reserve currency to the Chinese renminbi.
He said the US economy is out of control, with a debt growing by US$1 trillion every 15 months.
The investment guru listed the Singapore currency among the strongest in the world, but cautioned that the current stock market may be a bit pricey.
He is, however, big on China.
"I own tourism, agriculture and power generation; I own a lot of Chinese shares, a big basket. I own all the water stocks I can find in China, and I own the ports and airlines in China because it's partly to do with tourism. I own a lot of stocks in China, I'm very keen on China," said Rogers.
That said, he also warned that should the Chinese stock market double or triple by year-end, the bubble might burst and prices might drop by 40 or 50 percent.
More than 400 investment professionals were present at the Nomura Equity Forum, which ends on Friday. - CNA /ls
:bigeyes: Surprise got people say S'pore dollar one of the strongest currencies!:think: