CORRECTION: Jim Rogers responds to MINING.com about class A shares purchase story
Editor's Note: Jim Rogers took issue with a story published Sunday evening about class A shares purchase.
Story was based upon reporting from the Standard, a story which now appears to have been pulled.
MINING.com regrets the error. Here is Jim Roger's note.
I am startled at you article saying I have been buying A shares and that I bought A shares last in 2008. No, I am stunned. I explained over and over that I do NOT buy A shares when I invest in China! Many have quoted me that I do not buy A shares and I have written it myself that I have NEVER purchased A shares when I invest in China. I avoid A shares since they are always more expensive so I buy B shares, H shares, S shares, J shares, Chinese shares in Europe, and Chinese ADRs. I explained repeatedly the railroad company and the media company do not even have A shares since they trade in New York! I explained repeatedly about the other companies that I did not buy A shares. I kept repeating that I never do and have never purchased A shares. It was even recorded and filmed so how could you get this so absolutely wrong?
I also explained that I am not buying Chinese shares across the board since I am not sure the market has hit its final bottom yet. I am certainly not “loading up”. I repeatedly explained that these I bought were small positions and each had a special reason such as I became a director of the media company.
This is one of the most shocking examples of totally inaccurate reporting I have ever seen.
Here is the original reported story.
Jim Rogers loading up on Chinese A-shares for first time in 5 years
Jim Rogers says he's buying mainland China stocks in the environmental, agricultural, financial, and cultural sectors for the first time in five years, claiming that the Chinese Communist Party will continue to be 'very proactive' in helping to foster domestic stock market growth.
China's A-shares, domestic market shares quoted only in renminbi, are currently trading at roughly 70% lower than their peak after explosive growth in 2005-2007.
Some of Roger's recent buys have included a red wine dealer, a Beijing media firm, and a company that manufactures railway infrastructure.
Rogers also repeated his long held stance on agriculture's bright future in China and elsewhere: "Running a farm or being a farmer may be the best job in the world for the next several decades."