What is Jim Rogers betting on in 2010?

Excerpts from Bazaar on CNBC-TV18 Watch the full show » RELATED NEWS Gold, a great investment over next decade: Jim Rogers ALSO READ See what other FIIs are saying about the markets See what other experts are saying about markets See what Udayan Mukherjee is saying about the markets Nifty BSE | NSE 31/05/12 Are Mutual Funds betting on Nifty?

Q: What about the main base metal universe? Does that look like it has got a strong run going or would you say it would probably continue to lag some of the precious metals like gold?

A: Base metals have had a very strong run. Copper has doubled in the last several months. Most base metals are up. Maybe they are not up as much as gold in the last year. However, many of them have done better than gold over the past decade. I am not buying any of them right now because they have gone up a whole lot.

If I were going to buy commodities, I would buy the ones that are still depressed mainly in agriculture, silver or something like that. I certainly would not sell base metals because nobody can get finance to open a mine these days even if you could get finance to open a mine it takes 10 years to bring your mine on stream. So the supply of base metals is going to continue under pressure.

Q: What are the chances though that any of these base metals may be set up for a sharp correction this year?

A: They are very good if the world suddenly has a bit collapse. If England goes bankrupt or something like that then everything is going to go down a whole lot. If something like that happens they are going to print even more money. Better jump in and buy as many as you can because that is just going to make commodities even more attractive place to be in.

I have no idea what is going to happen if we have sudden bankruptcies or sudden wars. It will have a big effect on everything.

Q: You have spoken in the past about your attraction to the Chinese market but of the other BRIC countries Brazil, Russia and India which ones would you lead towards now if you had to invest there?

A: I am not investing in any of it at the moment. I bought shares in no place since November of 2008 and so I am not buying anywhere. All markets are up a lot. I am just sitting and watching. As I said, the way I am playing is mainly with commodities because if the world gets better they will get better and if the world economy doesn't get better then most stock markets are going to suffer. It's not necessarily true of commodities, if the world economy does not get better. In fact if the world economy does not get better they are probably going to print even more money. Hence, commodities will be the place to be.