The first half of 2015 has been eventful for the global financial markets due to developments in Greece and China. The possibility of an increase in interest rates by the US Federal Reserve has also kept investors on the edge. Commodity prices, especially crude oil, base metals and gold, have also been hit by these developments. Jim Rogers, chairman of Rogers Holdings and author of Street Smarts: Adventures on the Road and in the Markets, tells Puneet Wadhwa he expects global financial markets to be affected by bankruptcies, fluctuations and declines in stock markets over the next couple of years. Edited excerpts:
What is your interpretation of the developments inChina and its implication for the global financial markets?
Many stocks in China are closed, so one cannot trade in those. The people who had margin calls and who had borrowed money had to sell anything they could to raise money, as they could not sell stocks.
Good news, bad news gold goes down
Is now the time to buy?
Have you plenty of cash to take advantage of the coming bargain prices?
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