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Well I know that quite well. It doesn't matter though if people noticing he
said so days before the first run they listen again the second time. Now he
also said so monzhs ago, and nothing happened, but that's what you'd call mo:
go with what works at the moment. Right now, his comments are hot, so I posted
them because they affect average peoples perceptions and hence actions. When
this is over, he will be a legend again... even though he has a terrible track
record.
Gwenn
James Taylor wrote:
> do you know Mobius' record ?
> Apparently not. He wiped-out his clients accounts. Lost everything in
> Russia.
>
> He is proven to be clueless, and he still has not gone away.
>
> ----- Original Message -----
> From: Gwenael Gautier <ggautier@xxxxxxxxxxx>
> Sent: Friday, April 14, 2000 5:46 AM
> Subject: [RT] Mark Mobius, take II
>
> >
> > By David Chance
> > LONDON, April 14 (Reuters) - Emerging markets guru Mark Mobius said on
> > Friday that he would probably lighten up on holdings of
> > telecommunications companies and he expected global market volatility to
> > increase as a result of the sharp declines on the Nasdaq market.
> > Speaking to Reuters in a telephone interview from India, Mobius, who
> > manages some $12 billion of emerging markets money, told Reuters that
> > telecommunications stocks "have gotten a little expensive". "I think
> > (portfolio) change will probably be telcos and that will probably come
> > down," Mobius said, adding however that telcos would remain the largest
> > single sector.
> > The sharp drop in the value of the tech-heavy U.S. market has hit some
> > emerging market stocks hard and the benchmark International Finance Corp
> > Composite Index is now down one percent on the year. Mobius said that he
> > did not see any signs that the dramatic losses among U.S. dotcom stocks
> > would end and that global market volatility would increase this year.
> > "Once you get this going, it is like on the upside, it is
> > self-perpetuating," he said of dotcoms. "Globally, volatility is going
> > to increase," he said.
> >
> > Among individual countries, Mobius has been lightening up on South
> > African stocks, where he had a large overweight and remains bullish on
> > Mexico and Brazil. Mobius stressed however that he had not turned into a
> > bear on South Africa and said the changes mainly reflected portfolio
> > rotation. He said he still saw value in companies such as Sappi Ltd
> > <SAPJ.J, South African Breweries Plc <SAB.L and Anglo American Corp of
> > South Africa Ltd <AACJ.J. Mobius also said that he still believes that
> > emerging markets will be
> > strong performers this year.
> >
> > Elsewhere, Mobius said Templeton's analysts were telling him that the
> > Polish technology sector still had some way to rally. Contrary to some
> > of the views among fund managers Mobius believes that the Taiwanese
> > technology sector does not necessarly offer good value relative to
> > industrial sectors in Taiwan. "If you look at the smokestack/technology
> > valuations, the difference is pretty large," Mobius said.
> >
> > He also had some harsh words for fellow fund managers, who he said have
> > slavishly followed stock market indices. "At least 50 percent of my
> > colleagues are following the index and I regret the lemming-like
> > behaviour of us in the industry and the lemming-like behaviour of
> > clients," he said.
> >
> > Stock exchange regulators also came in for criticism for failing to
> > allow markets to function. India, for example, has a daily limit of an
> > eight percent price move, which Mobius said could exacerbate panic by
> > allowing orders to pile up. "The regulators are behind the ball here,"
> > he said. ((David Chance,
> > London Capital Markets +44 171 542 6784 email
> > david.chance@xxxxxxxxxxx))
> >
> >
> >
> >
> >
> >
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