Veterans grab investment opportunities amidst despair
The dead weight of 2008 has not affected braveheart veterans like Jim Rogers and John Paulson who are grabbing opportunities even amidst despair.
By Bloomberg |
Jim Rogers to buy more this year
Famous global investor and chairman of Rogers Holdings Jim Rogers said he���s been buying shares of Chinese companies even as growth in the world���s fourth-largest economy slows. Rogers started buying Chinese shares in 1988 and is now favouring equities traded in Hong Kong and Singapore that are cheaper than yuan-denominated stocks in Shanghai. Hong Kong���s Hang Seng China Enterprises Index, which tracks the city���s so-called H shares, climbed 1.4% on Wednesday. The CSI 300 Index, which tracks shares in Shanghai and Shenzhen, lost 0.9%.
China is slowing but ���some parts of the Chinese economy will be totally unaffected by what happens in the West,��� Rogers said. ���I started buying in October again. I never sold any Chinese shares.��� The global credit crisis has dragged the world���s largest economies into recession this year, hurting demand for Chinese products.
The People���s Bank of China has cut interest rates five times in three months to lend support to a 4 trillion-yuan ($586 billion) spending package intended to revive in an economy that grew in the third quarter at the slowest pace in five years.
Hong Kong���s H-share Index plunged 51% this year, the biggest annual decline since at least 1994. The CSI 300 fell 66% in 2008, the second-worst performance in Asia this year after Vietnam���s benchmark index.
This hedge fund loves toxic assets
John Paulson, who runs the $36-billion hedge fund firm Paulson & Company, is looking to buy distressed mortgages and distressed debt, despite being bearish on the overall economy.
Paulson wrote in a 2009 outlook to investors that he is interested in investing in debt restructurings, bankruptcies, strategic mergers and financial recoveries, the agency said.
His $13-billion Paulson Advantage Plus, has risen about 38% through December 19, the agency said, citing the undated report. The hedge fund industry is facing its worst year ever with heavy losses prompting large numbers of investors to request their money back. A large number of funds have imposed restrictions on investor redemptions.
In his letter, Paulson criticised his peers and their tendency this year to block or curb clients��� attempts to get their money back, the agency said. ���We think it���s a mistake for managers to use gates and other tools to limit investor access to their funds,��� he said.
Paulson & Co, along with JC Flowers and Dune Capital Management, is a prospective member of a consortium to buy the assets of failed mortgage lender IndyMac.
Famous global investor and chairman of Rogers Holdings Jim Rogers said he���s been buying shares of Chinese companies even as growth in the world���s fourth-largest economy slows. Rogers started buying Chinese shares in 1988 and is now favouring equities traded in Hong Kong and Singapore that are cheaper than yuan-denominated stocks in Shanghai. Hong Kong���s Hang Seng China Enterprises Index, which tracks the city���s so-called H shares, climbed 1.4% on Wednesday. The CSI 300 Index, which tracks shares in Shanghai and Shenzhen, lost 0.9%.
China is slowing but ���some parts of the Chinese economy will be totally unaffected by what happens in the West,��� Rogers said. ���I started buying in October again. I never sold any Chinese shares.��� The global credit crisis has dragged the world���s largest economies into recession this year, hurting demand for Chinese products.
The People���s Bank of China has cut interest rates five times in three months to lend support to a 4 trillion-yuan ($586 billion) spending package intended to revive in an economy that grew in the third quarter at the slowest pace in five years.
Hong Kong���s H-share Index plunged 51% this year, the biggest annual decline since at least 1994. The CSI 300 fell 66% in 2008, the second-worst performance in Asia this year after Vietnam���s benchmark index.
This hedge fund loves toxic assets
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John Paulson, who runs the $36-billion hedge fund firm Paulson & Company, is looking to buy distressed mortgages and distressed debt, despite being bearish on the overall economy.
Paulson wrote in a 2009 outlook to investors that he is interested in investing in debt restructurings, bankruptcies, strategic mergers and financial recoveries, the agency said.
His $13-billion Paulson Advantage Plus, has risen about 38% through December 19, the agency said, citing the undated report. The hedge fund industry is facing its worst year ever with heavy losses prompting large numbers of investors to request their money back. A large number of funds have imposed restrictions on investor redemptions.
In his letter, Paulson criticised his peers and their tendency this year to block or curb clients��� attempts to get their money back, the agency said. ���We think it���s a mistake for managers to use gates and other tools to limit investor access to their funds,��� he said.
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Paulson & Co, along with JC Flowers and Dune Capital Management, is a prospective member of a consortium to buy the assets of failed mortgage lender IndyMac.
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