Wall Street Folly

The global financial crisis won’t last long and emerging-market stocks are a “wonderful opportunity” for investors after their record rout, said Mark Mobius, executive chairman of Templeton Asset Management Ltd.

“There are bargains on almost every single market around the world,” Singapore-based Mobius, 72, said in a Bloomberg television interview from Rome. “We now have too many things to look at so we are picking the ones that are most down.” He cited Russia, China, Brazil, Turkey, South Africa and India as markets that Templeton was looking at.

Mobius Looking at Brazil, China, Russia After Rout
- Bloomberg

Tags: Mark Mobius

“I just don’t see a long, protracted
recession,” Mobius, who manages about $40 billion in emerging market stocks,
told the Super Return Asia conference in Hong Kong today. “There is an
opportunity to buy low right now and sell high in the next cycle.”

Mobius said private equity investors
with a five-year investment horizon should watch out for bargains, even in
export- oriented industries, because world trade is still increasing. The
economies of emerging countries including China, India and Russia should
withstand the financial-market turmoil because they have resources to boost
domestic spending, he said.

Mobius Says U.S. Slowdown Won’t Last, Bargains Abound – Bloomberg

Tags: Mark Mobius