[Asia Economy Reporter Choi Eun-young] Jim Rogers, chairman of Rogers Holdings and known as one of the world's top three investors, warned the 'Donghak Ants'?retail investors who jumped into the stock market frenzy following the COVID-19 pandemic?that "the end is approaching."
On the first broadcast of tvN's 'Monthly Connect' on the 7th, cast members Jang Ye-won, Yoo Hyun-joon, Kim Ji-yoon, and Kim Dong-hwan were shown meeting Jim Rogers via video call.
Jim Rogers cautioned about the stock investment craze sweeping South Korea, known as the 'Donghak Ant Movement,' saying, "History shows us that the end is near."
He stated, "I'm not saying to immediately sell off or short sell. I'm not saying it's over now, but signaling that the end is approaching. It's obvious. As history shows, the end is near. You need to be aware of this."
When asked by a cast member if he had any advice for the Donghak Ants, he replied, "They won't listen even if I say it," adding, "A cautious attitude is necessary. Stock prices have already risen significantly, breaking records, and will stop soon."
He advised, "Don't invest in areas you don't understand well. Only invest where you have good knowledge," but remained skeptical, saying, "Still, people will say 'this time is different.'"
In response, Kim Dong-hwan, director of the Alternative Finance Economic Research Institute, asked, "It seems you believe there is a high possibility of a significant bubble burst in the stock market. When do you think that might happen? What signs or symptoms should we look for to know a bubble is about to burst?"
Jim Rogers answered, "I don't know. Of course, I can read signals that the upward trend is ending, but I don't think that point has arrived yet."
He added, "When Biden's term begins, a lot of money will be printed. People around Biden like to print money. This state will be maintained for a considerable period. Some parts of the U.S. and other stock markets are also in a bubble state. The upward trend will end this year or next year," he predicted.
Finally, he advised, "The 2030 generation surely has areas they know well. Young people always explore their interests. Start from there."
He also added, "Only invest when you directly observe something and judge that there is a possibility of success. It's very simple, but people don't do that."
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