Co-Founder of the Quantum Fund and Chairman of Rogers Holdings, Jim Rogers, criticized the famed short-seller Jim Chanos and said he is wrong on a lot of things and doesn't understand China. Chanos has been making waves across the financial spectrum for his piece in the New York Times stating China is in a bubble will collapse in 2010. Basically, Chanos believes China having a major credit bubble, a lot of hype and an economy driven by stimulus.
However, Rogers believes Chanos is wrong and made a bold statement saying Chanos “couldn’t spell China 10 years ago and is now an expert on China.” The author of “Hot Commodities” added that Chanos misunderstands basic facts about income, real estate and the Chinese Yuan, according to Forbes
This is not the first time Rogers has sparred with another financial analyst. Last month, Rogers disagreed with Nouriel Roubini over the price of gold. Roubini said, reports Commodity Online
, the ideal price for gold is at roughly $1,000 and that right now it’s sitting on a bubble but Rogers disagreed with that analysis and said instead gold will go above $2,000 within the next decade.
The Business Insider
notes that Rogers is sensitive on the issue because he has invested a lot of money in Asia, especially Singapore and China, and has moved his family there.