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How to Invest Like Jim Rogers

NEW YORK (TheStreet) -- Jim Rogers , legendary contrarian investor, author and chairman of Rogers Holdings, is still betting on $2,000 gold in 10 years and in the meantime is looking to profit from China, the euro and other commodities.

Rogers' $2,000 gold target is nothing new but as gold prices have popped 11.8% year to date and the euro has fallen almost 14% against the U.S. dollar, a contrarian investor might sell gold and buy the euro. I spoke with Jim Rogers to see how he was positioning his portfolio.

What is your gold outlook?

Rogers: As far as I'm concerned, gold will go certainly much higher over the next decade or so. Governments all over the world are debasing money at a rapid rate and that has always led to higher prices for real assets throughout history and it will this time too.

How To Buy Gold Futures

Do you have a price target?

Rogers: I mean, I know the old high, adjusted for inflation, is over couple thousand dollars an ounce. I know it'll get there over the next decade. It depends on how much they debase the currencies.

Rates are going to go much, much, much higher. I'm judging the world as it goes. I see that actions by governments all over the world are making it worse. So I presume that will continue and gold will go that much higher over the decade.

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Did you revise your price target or outlook for gold [after] the European debt crisis?

Rogers: It's all part of the same picture ... most governments everywhere only know one thing and that's to print and spend money that they don't have ... Whenever you do that, it debases currency, always has, and until I see some governments realize that they [have to] do something else, then I plan to own gold and other precious metals and other real assets.

What other precious metals do you also like?

Rogers: Silver is 70% below its all-time high, 60% or 70% below its all-time high. Gold is making all-time highs. I think people should perhaps look at silver, platinum, palladium. Palladium is also 50%-60% below its all-time high. Platinum is maybe 30% below its all-time high. Frequently, you're supposed to buy the things that haven't moved as much. And so I would be looking at the others if I were thinking about precious metals. But I own all four, don't get me wrong.

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