RBC: Jim Rogers sold all his US shares and invested in Uzbekistan

ArmInfo. Renowned American investor Jim Rogers has sold all his US stocks because he fears a correction in the American market and a slowdown in economic growth.

He told RBC Investments and RBC Radio this in his annual New Year's interview. In 2025, the broad market index S&P 500 rose more than 16% to 6,845.49 points. The leading indicator of American stocks broke its all-time high on December 26, reaching 6,945.77 points (an 18.1% increase since the end of 2024), marking its highest level of the year.

"The American market recently reached all-time highs. It's been growing since 2009—the longest period of growth in US history. I sold everything in America because this is the longest period of growth in history. I obviously sold too early, but in my view, the growth cycle is coming to an end. "There might be another major move higher, but I sold everything I had in the US," he said. He didn't give an exact date for the transaction, but noted that it was toward the end of 2025.

Around the same time, Rogers added an unusual position to his investment portfolio: Uzbekistan shares. "I bought most of the [shares] that are traded on the exchange—there aren't many, and I bought almost all of them," he said.

Currently, 85 companies trade on the Tashkent Stock Exchange of Uzbekistan. Issuers include banking, oil and gas, telecommunications, and other sectors.

Rogers noted that his portfolio only holds shares of Uzbek issuers; he doesn't hold the country's sovereign debt.

Meanwhile, the investor has completely divested himself of his Russian exchange assets in recent years, but he does hold Russian rubles on the Moscow Exchange, which he claims he has no plans to withdraw. "I'm perfectly happy to continue holding rubles because I hope to invest in Russia again, and I hope to visit Russia again. And if I decide to buy Russian assets again, I'll already have rubles," Rogers says optimistically.