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I recall a couple of months ago there was a TV program about Mark and his
globe trotting pursuit of undiscovered markets and equities. I recall he
was a tough task master to his staff. He sure must have piled up the
frequent flyer mileage. Although the program didn't give a figure, I
understand he draws a multimillion $ salary. You mean he is not omnipotent?
M
----- Original Message -----
From: James Taylor <jptaylor@xxxxxxxxxxxxxxx>
To: <ggautier@xxxxxxxxxxx>; <realtraders@xxxxxxxxxxxxxxx>
Sent: Friday, April 14, 2000 10:52 AM
Subject: Re: [RT] Re: Mark Mobius, take II
> 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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