Jim Rogers says 'no thanks' to Facebook

Legendary investor Jim Rogers has said he would not buy Facebook shares because they would be "too expensive".

Rogers told CNBC he would not be tempted to buy into the social media giant at its proposed listing, reported to be on Wednesday. "No, that kind of stock I do not buy. They are usually very, very expensive. A lot of people like to buy expensive stocks like that, but I do not," he told CNBC on Monday. Social networking giant Facebook is set to begin the process of becoming a publicly listed company this week, with reported valuations of between $75bn (£48bn) and $100bn dwarfing Google's $1.9bn IPO in 2004. But the chairman and CEO of Rogers Holdings added the timing of the IPO could...