However, uranium and nuclear power stocks are likely to be good buys only in two or three years, when things calm down, Rogers, who together with George Soros co-funded the Quantum Fund, said in an interview.

"Unless we find something to replace oil and coal, we have to have nuclear… whether we like it or not," he said.

Rogers, whose portfolio is mainly in commodities and currencies, said oil prices will rise.

"The price of oil is going to go much higher over the next decade", the Chairman of Rogers Holdings said in an interview.

Rogers bought the Japanese stock index and some stocks following the disastrous earthquake and tsunami that hit the country earlier this month.

"It's going to cause slowdown in the Japanese economy… eventually though they are going to have to rebuild and they will rebuild," he said.

"I don't think Japan is going to fall off the face of the earth and I own Japan," he added.

The Japanese investors are going to have to bring their money home and are likely to sell US government bonds, said Rogers, who also owns the yen .

"I'm not selling anything. I'm waiting to sell short US government bonds."