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

While other investors may shy away from Russian equities these days, emerging markets veteran Mark Mobius believes it’s hard to ignore such beaten-down stock prices. Bloomberg’s William Mauldin wrote yesterday:

“When markets come down like this we add, not subtract,” Mark Mobius, who manages about $30 billion in emerging market stocks as executive chairman of Templeton Asset Management Ltd., said in an interview from Milan today. “It’s a once-in-a-lifetime opportunity.”

Source: Barynya

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“Russian Stocks Fall, Adding to Record Slump, on Rescue Loans”
William Mauldin
Bloomberg, October 7, 2008

Earlier today, Richard Milne from the Financial Times (UK) wrote about the economic outlook for Europe. He spoke of emerging markets veteran Mark Mobius, and what the legendary investor thought about increasing concerns regarding low growth in the European economies. Milne wrote:

But not everyone agrees. Mark Mobius, managing director at Templeton Asset Management, will today say: “This crisis remains in the mind, rather than in reality. The likelihood of a Europe-wide recession is very small and any downturn in the markets will be short-lived.”

European Central Bank
Frankfurt, Germany

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“Business calls for attention to growth”
Richard Milne
Financial Times (UK), September 22, 2008

As a sense of uncertainty still grips financial markets around the world, emerging markets veteran Mark Mobius is spotting some investing opportunities. Kevin Plumberg of Reuters (UK) wrote this morning:

The financial storm of the last week has smacked valuations down to attractive levels, particularly in Brazil, Thailand and Turkey, said Mark Mobius, executive chairman of Templeton Asset Management.

In response to email questions on Wednesday, Mobius said markets are closer to the end of the financial crisis after a bankruptcy filing by Lehman Brothers, massive industry consolidation and the bail-out of American International Group.

“The resolution of the uncertainty revolving around Lehman, Merrill Lynch and AIG is positive and could constitute the beginning of the end of the market turmoil that has afflicted financial markets since mid-2007,” said Mobius, who helps to oversee $28 billion in emerging market assets.

Turkey: Investment potential?

Plumberg talked more about what Mobius suggests investors should look at:

“We believe the events of this past week have resulted in markets falling to valuations that present an investment opportunity.”

He said he continues to find value in Brazil, Thailand and Turkey, where he has been bullish since at least April. He also said bank stocks in emerging markets have not been hit as hard as in developed markets.

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“FUND VIEW-Templeton’s Mobius sees bargains in turmoil”
Kevin Plumberg
Reuters (UK), September 18, 2008

India’s CNBC-TV18 spoke to emerging markets veteran Mark Mobius yesterday. Here are some notable excerpts from the exchange:

CNBC: Do you feel that global equity markets are somewhere near forming a bottom for themselves or do you think there might be some more to go by way of price damage before we get there?
MOBIUS: In these situations, you have a spike down or probably low liquidity at the end of a bear market. We would see that before everything is over, but it would be difficult to pick the bottom. At present, we are looking at where the opportunities are and which stocks look the cheapest. There are many stocks that look cheap now. We will take opportunities gradually.

CNBC: Are you seeing opportunities in India right now or are you generally holding on to higher cash levels?
MOBIUS: We are seeing opportunities everywhere including India. There are many opportunities or stocks in India which look good. Also, prices have come down.

CNBC: There is a lot of pessimism about the BRIC, or Brazil, Russia, India and China, markets now. Are BRIC funds losing quite a bit of money as they had raised quite a bit of capital over the last couple of years?
MOBIUS: There is some redemption, but it’s not as big as you would imagine. When these things happen, there are good opportunities to stay or even buy more. We have seen redemptions but it’s not a massive exit. Most declines in the assets under management of fund managers mainly come from price accrued depreciation rather than actual redemptions…

CNBC: Will another meaningful fall in crude prices do anything to elevate the mood in equity markets or is that back of the mind right now?
MOBIUS: The markets and sentiment are going to get better from here. With the uncertainty being reduced, it is generally good for markets.

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“Mark Mobius bullish on India”
Moneycontrol.com (India), September 15, 2008

A number of legendary investors, including Marc Faber, Bill Gross, and Mark Mobius, have been talking to the financial news media about the crisis that is taking place in the markets. Here is what they’re saying:

Marc Faber

CNBC, September 15
You can access the 4 minute 41 second interview here.

Bloomberg, September 15
You can access the 7 minute 28 second interview here.

Bloomberg, September 15
You can access the 3 minute 30 second interview here.

Bill Gross

CNBC, September 15
You can access the 6 minute 5 second interview here.

Bloomberg, September 15, 2008
You can access the 24 minute 40 second interview here.

Mark Mobius

Bloomberg, September 15
You can access the 5 minute 6 second interview here.

Dr. Mark Mobius, the executive chairman of Templeton Asset Management who is known for his emerging markets expertise, is all over the financial newsscape these days. The following are a battery of links to all things Mobius:

Mobius Recommends S. African, Turkish Stocks, Palladium: Video
Bloomberg, September 4, 2008

Mobius Says Templeton ‘Sitting Tight’ on Thailand Stocks: Video
Bloomberg, September 4, 2008

“Templeton May Add Thai Stocks on Losses, Mobius Says (Update1)”
Susan Li, Chen Shiyin
Bloomberg, September 4, 2008

“Mobius picks South Africa as most attractive market”
Drazen Jorgic
Citywire (UK), September 3, 2008

“FUND VIEW-Templeton’s Mobius sees S.Africa growth”
Peter Apps
Reuters (Africa), September 2, 2008

“China and Russia Are Still Great Investments: Mobius”
CNBC, September 1, 2008

“INTERVIEW: Mobius says all to play for in Turkey”
David O’Byrne
Business New Europe (Germany), September 1, 2008

“UPDATE 1-Templeton’s Mobius likes Russia despite Georgia”
Dan Burns, Herbert Lash
Reuters, August 29, 2008

Earlier today, legendary investors Marc Faber and Mark Mobius talked about Thailand as the Southeast Asian country wrestles with political instability. Thailand’s SET Index dropped to a 19-month low Tuesday after Prime Minister Samak Sundaravej declared a state of emergency following clashes between pro and anti-government demonstrators.

Marc Faber, the famous Swiss-born investor who resides in Thailand, appeared on Bloomberg Television this morning from Bangkok and talked about the political crisis, the economy, and the investment outlook for Thailand. The editor of The Gloom Boom & Doom Report said:

Thailand is essentially a political mess. The economy is not very dynamic, and it will continue to kind of move ahead slowly…

But at the same time, these people look for a strong stock market. I think that will be misplaced. At the same time, Thai shares are inexpensive. You can buy lots of Thai companies at a dividend yield of between 5 and 8 percent. So, that will give some support to the market.

Templeton Asset Management’s Mark Mobius also addressed the Thailand situation when he appeared on CNBC this morning. The emerging markets veteran said:

We are bullish on Thailand long-term. And we have been for quite some time because we think that these political disturbances sort of refresh the political climate and pushes for reform. So, we think after this is over, things will be good…

Based on our experience, from many, many years in Thailand, things will get better. There’s no question about that. You may have to wait for a while. But the interesting thing about the market is it hasn’t come down very much in the face of these demonstrations. So, I would like to see some further correction in the market before going back in.

(CNBC: How much of a correction?)

20, 30 percent like that.

You can view 9 minute 14 second Faber segment here.

You can view the 3 minute 31 second Mobius segment here.

Sources:

Marc Faber Interview
Bloomberg, September 2, 2008

Mark Mobius Interview
CNBC, September 2, 2008

Mark Mobius’ faith in emerging markets remains strong, despite growing political concerns over Pakistan and Russia. Charlotte Banks wrote on the website for the London-based publication Professional Adviser earlier today:

Despite an unstable stockmarket and rising political uncertainty, Mark Mobius, executive chairman of Templeton Asset Management, believes that Pakistan still offers long-term value…

“It is a big and important country which is full of very intelligent people so there is no reason why they shouldn’t do quite well,” he said.

Turning his attentions to another emerging market which has raised political concerns for investors, Russia, Mobius says he hasn’t been put off and he is not concerned about investing there.

“The problems are not going to scare us away from Russia - in the long term we think the country is going to be fine and will not be avoiding it in any way,” he said. “In the long term, the country is too important to ignore.”

Square of Europe, Moscow

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“Mobius points to Pakistan as a long-term winner”
Charlotte Banks
Professional Adviser (UK), August 29, 2008

Yesterday, Koh Gui Qing of Reuters India talked about the recent political upheaval in Pakistan and its effects on the domestic financial markets. Qing wrote:

Pakistan’s financial markets will increasingly miss the political stability under Pervez Musharraf as the country’s nascent but turbulent transformation to democracy from dictatorship keeps foreign investors away.

Some analysts said although Pakistan’s transformation into a democracy will get the thumbs-up from investors in the long run, the jostle for power may deter foreign investors in the near term and limit any market recovery…

Pakistan’s stock market is at a new two-year low and the rupee has weakened to a new record low.

Emerging markets veteran Mark Mobius offered his views on the situation in Pakistan to Reuters. According to Qing:

“The departure of Musharraf does not necessarily mean that stability and a guarantee of U.S. aid is out the window,” said Mark Mobius, executive chairman at Templeton Asset Management.

Mobius said Pakistan’s stock market has “probably already discounted the worst case scenario”.

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“Pakistan’s rocky road to democracy deters investors”
Koh Gui Qing
Reuters (India), August 27, 2008