A Bull in China: Investing Profitably in the World's Greatest Market

by Jim Rogers, Johnny Heller (Narrator)

If the twentieth century was the American century, then the twenty-first century belongs to China. Now the one and only Jim Rogers shows how any investor can get in on the ground floor of "the greatest economic boom since England's Industrial Revolution." In this indispensable new book, Rogers, one of the world's most successful investors, brings his unerring investment acumen to bear on this huge and unruly land now being opened to the world and exploding in potential. Rogers didn't just wake up a Sinophile yesterday. He has been tracking the Chinese economy since he first went to China in 1984 in preparation for his round-the-world motorcycle trip and then again when he saw Shanghai's newly reopened stock exchange. In the decades that followed—especially in recent years, with the easing of Communist Party financial dictates—the facts speak for —The Chinese economy's growth rate has averaged 9 percent since the start of the 1980s. —China's savings rate is over 35 percent (in America, it's 2 percent). —Forty percent of China's output goes to exports (so there is no crippling foreign debt). —Sixty billion dollars a year in direct foreign investment, combined with a trade surplus, has brought Beijing's foreign currency reserves to over $1 trillion. —China's fixed assets—ports, bridges, and roads—double every two and a half years. In short, if projections hold, China will surpass the United States as the world's largest economy in as little as twenty years. But the time to act is now. In A Bull in China, you will learn what industries offer the newest and best opportunities, from power, energy, and agriculture to tourism, water, and infrastructure. In his trademark down-to-earth style, Rogers demystifies the state policies that are driving earnings and innovation, takes the intimidation factor out of the A-shares, B-shares, and ADRs of Chinese offerings, and encourages any listener to trust his or her own expertise (if you're a car mechanic, check out their auto industry). A Bull in China also features fascinating profiles of "red chip" companies, such as Yantu Changyu, China's largest winemaker, which sells a "Healthy Liquor" line mixed with herbal medicines. Plus, if you want to export something to China yourself—or even buy land there—Rogers tells you the steps you need to take. No other book—and no other author—can better help you benefit from the new Chinese revolution. Jim Rogers shows you how to make the "amazing energy, potential, and entrepreneurial spirit of a billion people" work for you.

Genres: Business, Finance, Economics, China, Nonfiction, Travel, Audiobook

MP3 CD

First published January 1, 2007

About the author

Librarian Note: There is more than one author in the Goodreads database with this name.
James Beeland Rogers, Jr. is an American investor and author, currently based in Singapore. Rogers is the Chairman of Rogers Holdings and Beeland Interests, Inc. He was the co-founder of the Quantum Fund with George Soros and creator of the Rogers International Commodities Index (RICI). He has travelled around the world by motorcycle and car

Reviews

[Jay French · Rating 4 out of 5]

This book tells you as much about changes in the Chinese economy and way of life over the past few decades as a survey of China college class. Rogers approaches China with an investors eyes, and doesn’t play favorites when it comes to analyzing industries. After his introductory section, where he talks about being the first Westerner to buy stock certificates in a Chinese exchange, Rogers writes section after section on different industries. He provides some often quirky statistical analysis of changes in that industry in China, then suggests a handful of stocks that he believes will profit from those changes. While the analyses still seem timely, this now ten year old book’s stock recommendations might not fit the bill. A majority of the recommendations are for stock on the Chinese market, many shares which are (or at least were) not available to non-citizens. There are some recommendations that are for stocks on US or other markets, but as time has passed, some of these companies, like Nalco and Bucyrus-Erie, have been bought out or otherwise disappeared. Nevertheless, I still found Roger’s analysis enlightening, and his recommendations give a good beginning point to doing your own investigation of investing in China.

[Ajay · Rating 2 out of 5]

This book excellently captures the investment thesis of Jim Rogers -- writing in 2007 Jim writes that American investors should do what they can do buy a seat at the table at the greatest economic book since England's Industrial Revolution. Was he right?

The book was published in 2007, after China had experienced two decades of 10% per year GDP growth, after the Shanghai Stock Exchange had risen from 1,200 to 2,600 (more than 2x) in the last 12 months (Jan 2006 to Jan 2007). In 2007, China's GDP growth was 14.23% and the SSE rose another 2x to 5,400. Clearly Jim had the benefit of hindset rather then any insightful prediction and was capitalizing on a broadly held wave of sentiment that has since aged poorly whether by the global financial crisis or changing perceptions of China's journey.

When examining Jim's thesis -- its painfully how little he knows or understands about the country. How poor his predictions on everything from democratic-transition to the Taiwan issue were simply uninformed opinions tainted by ideology. There are numerous claims in the book that are just false.

His anecdotes from visiting the country were funny because they showed me how an American visitor might have interpreted Chinese society at that time. But he makes broad sweeping generalizations about a very large and diverse country with very limited experience.

This is book does have some value by demonstrating in a practical fashion how an investor can convert a thesis into actionable investment insight. Jim gives concrete examples of his methodology and of stocks he believes would do well if elements of his thesis would do well. An example would be betting on businesses in the port of Fuzhou as a proxy for greater trade integration between China Mainland and Taiwan or betting on a mall advertising group as a proxy for the growth in mall traffic. I also went beyond his bread-and-butter in commodities to discuss a wide range of industries.

[Ron Cruz · Rating 3 out of 5]

I'm a long-time dividend investor and emerging markets investor. I've been wanting to read this one for a long time because of Jim Rogers' strong interest in commodities. Unfortunately, China has long since changed since this book's release 16 years ago. It would be fair to say that much of the information presented is outdated. His final thoughts were to "revise old information" and to "update quickly" in order to "stay involved for the long haul". I do agree with him that "China is not going to fizzle out or fade away".

I wonder if he still thinks this will be true:
"Chpt. 6: The UN World Tourism Organization predicts that by 2020, Chinese Tourists will be 4th in the World in the Number of Foreign Trips. Barring some Unforeseen Border Closing Calamity, the Chinese will be # 1 by 2035"

[Kyle · Rating 3 out of 5]

Would’ve enjoyed this a lot more in 2008 after it was released. Still enjoyed learning about Chinese history and some of the reasons they developed their economy and how that’s gone about. The stock picks were interesting as many of his picks are massive corporations now, but given the massive basket he offers there’s isn’t a surprise there. Would have loved more in depth looks at specific companies but I see he was targeting the average retail investor.

You’d probably be better off reading Li Liu’s free articles on his site unless you want to know what was hot in the mid 2000’s or picks that looked great in 2007 but lose their ouster after having appreciated for 12+ years.

[Ramon · Rating 4 out of 5]

This is a very detailed introduction to investment opportunities in China. Even though the book was published in 2007, the summary of each industry sector is useful to know before you even consider investing in China. Each chapter has a list of recommended companies, profits and revenue and this makes for easy comparisons. This book is highly recommended for people who are seriously looking to diversify their portfolio into a growing economy.

[Graeme · Rating 3 out of 5]

Now dated, and a bit tedious to read through the company profiles.

[Morten Hovland · Rating 4 out of 5]

A rising Chinese market

[John Curtice · Rating 1 out of 5]

Doesn't age at all

[Phillias · Rating 5 out of 5]

Succinct and deeply investigated. Dated quickly but still good sources.

[Joey · Rating 3 out of 5]

Part diary, part macroeconomic discussion, part reference for Chinese stock ideas. Jim Rogers goes beyond commodities, his calling card, and talks about what the rising income of the average Chinese citizen will do for just about every major industry you can think of.

It's written in a helter-skelter way that discusses both the pros and cons (mainly the fragmented Chinese stock system, pointlessly broken into 5 or so different share classes that each carry different sets of risks; as well as protectionist and transparency risks) of investing in individual Chinese stocks.

I found it to be insightful especially when the macroeconomic discussion ventured into where specific Chinese industries would have comparative advantages in the coming decades. For example, Rogers argues that China may very well end up specializing in organic farming because its land requirements are rather low and labor requirements relatively high - couple that with the low labor costs. Whereas the US (when it becomes an export nation) will end up specializing in crops such as wheat that require low labor and more PPE - couple that with the US' ample arable land.

Read it to understand how China will affect the global economy in the coming decades and for investment ideas, not for stock tips.

[Joel · Rating 3 out of 5]

A Bull in China is not a book the reader gets lost in. But, if you want to learn more about investing in China, Jim Rogers' book fits the bill. Widely known in the investment community for his unabashed enthusiasm on Asia's economic future, the author has circled the globe more than once, rode a motorcycle across China before most even considered visiting, and has lived in Asia for years. Even the bears have to admit Jim is exceptionally well-researched, and his multi-decade record of successful investing adds credence.

One of the more telling opinions expressed in the book is that the 19th century belonged to England, the 20th to the USA, and the 21st will belong to China. The short-term is impossible to predict, but this long-term view seems hard to deny. Much supporting evidence is provided, but the most salient is an in-process release of pent-up productivity, innovation, and growth that only a billion-plus people can provide. Communism is slowly losing its stifling grip.

A Bull in China is mostly practical, as Rogers discusses secular trends sector by sector and then highlights stocks likely to benefit. In addition to the big picture themes, Rogers teaches the basics of investing in China, such as navigating the mind-numbing array of share-types and listing sources for further research on Chinese shares.

[Pterotaktyl · Rating 4 out of 5]

I consider myself to be an investor and investing is really my thing. Hence, the book is interesting for me, but if you are not crazy about investing (as I am), it might not be the best book to read.

It is basically an overview of Chinese companies without much of a story. Moreover, a number of the companies mentioned would be a complete disaster as an investment. I was surprised to see in the list some outright scams. Obviously, the author stresses that he does not give an investing advice, but still...

I could learn something by mainly taking the companies mentioned in the book and looking at where they are today.
After reading this, you might want to read something about investing in China, where the author is more bearish, which is what I did to hear both sides.

A non-investor would probably rate the book worse than 4/5.

[Sean · Rating 3 out of 5]

Jim Rogers has been pitching China and commodities non-stop since his first motorcycle ride through the country in the 80s, and this book is a more commercialized, investments oriented look at a good number of key industries that are experiencing tremendous growth as China comes out of its shell. Including lists of publicly traded companies in each industry and lots of stats on the growth rates and comparative size of industries/companies/economy with that of the US and the rest of the world, A Bull in China helps the reader get a quantitative view of the emerging power that may just lead the world later on this century.

Recommended if you’re interested in buying specific stocks in China, or just interested in learning more about China’s rapid economic growth in general.

[David Nealis · Rating 4 out of 5]

The legendary commodities investor Jim Rogers has written an interesting top down book on investing in China.

Jim Rogers has the ability to assimilate a vast amount of detailed information and reproduce it in a simplistic and systematic format that everyone can comprehend.

I agree with Jim Rogers' optimism on China, which is what attracted me to the book.
What I enjoyed most about this book is Jim Rogers’ desire to educate and inspire everyone to invest regardless of his or her investing sophistication at his or her own comfort level.

This book is worth reading for any globally minded investor and I look forward to reading more of his work.

[Brian Zheng · Rating 5 out of 5]

In Rogers'�� own words ��this is not a catalog of hot tips or even of recommendations. Rather, it is my survey of business happenings in China��. You simply cannot deny China is growing at an astonishing speed and pose tremendous investment opportunity, especially the RMB denominated assets. Jim offers his first hand view about the dramatic economic change in China since his first visit in 80s. This is definitely a great read to for a basic understanding of the major stocks in China. The book is written in 2006 and published in 2007, and you will be surprised that even some of the most optimistic view in the book is proven to be too modest now.

[Kevin · Rating 4 out of 5]

No doubt Jim Rogers is one of very few true investing legends. He is dubbed the "Indiana Jones of finance" for his world travels and adventures. This book makes a great case for China as the next great economy in the years and decades to come. Jim also makes a great case for the Yuan (chinese dollar) and why he thinks it could appreciate 300% against the U.S. Dollar in the next decade. I'll put it to you this way...I would never bet against Jim Rogers!

[Patty Apostolides · Rating 5 out of 5]

I think very highly of the author and have read his other books. He writes well and the focus in this book is on China and investing in it. He believes that it's better to put a portion of your savings in China rather than invest it all in the USA.

He states about China: "There will be enormous opportunities there no matter what happens on the other side of the world."

[Roger Humbke · Rating 4 out of 5]

I first learned about Jim Roggers when I was trading commodities about 35 years ago. He has stuck with it and has a life of experiences I would have liked to share.

He is in Singapore. I am in the heart of China.

[Nenad]

interesting read...I've finished about half of it.

[Charles · Rating 4 out of 5]

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[Dee Renee Chesnut · Rating 2 out of 5]

This has a good explanation of all the types of shares available for a Chinese corporation. Many ADRs are listed for you to begin your research before investing in them.

[Nor Faiz]

A book you should read before investing in China.

[Wendy · Rating 3 out of 5]

Needs an update. The market has changed too much in the past 4 years

[Tom]

yes. america sucks. invest in china. this guy moved there and is making his 3 yr old daughter learn Manderin. thats commitment.

[Brent Woodson · Rating 3 out of 5]

Little late info

[Philip Scuderi · Rating 2 out of 5]

China has recently been opening up its markets. We get it. Reading this book, you're not going to learn much more about China than you will by watching Jim Rogers on YouTube.

[Melissa · Rating 3 out of 5]

Very detailed look at where China has growth possibilities it's chocked full of companies and additional resources.

[Uldis Braunfelds · Rating 3 out of 5]

Not as interesting as the previous books.

[Javier · Rating 3 out of 5]

finance

[Frank Palardy · Rating 4 out of 5]

Half the book lists various stocks info that is useless now. Still it's interesting.