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He will be remembered alright, as one of the biggest fools Wall Street has
ever know.
----- Original Message -----
From: Gwenael Gautier <ggautier@xxxxxxxxxxx>
To: <realtraders@xxxxxxxxxxxxxxx>
Sent: Friday, April 14, 2000 9:25 AM
Subject: [RT] Re: Mark Mobius, take II
> 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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