Legendary emerging markets investor Mark Mobius is like a child in a candy store these days. Bloomberg’s John Dawson and Daniela Silberstein wrote today:

Mark Mobius said he sees bargains in Russia, China, Brazil, India, Turkey and South Africa and is ready to start buying after a record plunge in emerging-market stocks.

“We now have too many things to look at so we are picking the ones that are most down,” Mobius, who oversees about $30 billion in emerging-market equities at Templeton Asset Management Ltd., said in a Bloomberg television interview from Rome. “If you look at valuations, you can see these stocks are at a point where maximum pessimism is playing a big role. I think we’ll be very happy a year or two from now.”

Johannesburg, South Africa

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Source:

“Mobius Looking at Brazil, China, Russia After Slump (Update2)”
John Dawson, Daniela Silberstein
Bloomberg, October 9, 2008

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