Jim Rogers may not be a household name, but his uncanny insight into the financial markets has made him a legend among his fellow commodities experts. And Rogers is calling it from here: If you want to make money in the market, go long on agriculture.
“There’s going to be a huge shift in American society, American culture, in the places where one is going to get rich,” Rogers recently told Forbes. “The stock brokers are going to be driving taxis. The smart ones will learn to drive tractors so they can work for the smart farmers. The farmers are going to be driving Lamborghinis. I’m telling you. You should start Forbes Farming.”
And Rogers has just extended his bullish prediction to agriculture around the globe. He predicts that China’s agricultural sector is one of the few that will boom as others go through “a hard landing.”
“I’m long agriculture more than anything else,” Rogers adds. “(The global economy is) going to get worse next year. 2013, 2014 — you should be very worried and you should prepare yourself. There are a few parts of the world economy that are going to boom over the next few years — agriculture is one of them.
“It’s not going to be all disaster,” he notes. “Farmers are going to do very well.”