With the recent rough patch for emerging markets, it's interesting to come across this article about Templeton's Mark Mobius from a Hungarian website:
“We don't see any reasons why we should be panicking out of these markets. If you are in with a six-month view, then don't touch the market. If your view is more like five years, then there is a good opportunity and good value out there," Mobius said. “There's been a healthy correction. It's good to have a correction. We have taken advantage of it, especially in Turkey," he added.
The article has Mobius praising Turkey's fundamentals and the country's moving toward joining the European Union. Though it also has him saying that whether it gets in the EU or not is immaterial.
Further down the piece, Mobius predicts the price of oil(!):
Templeton, Mobius said, has “quite a lot" in oil and gas, adding that some of these markets have gone up more than they expected and “probably more than they should".“But when they will come down, they will come down to levels that are still much higher than they were. And even at those levels there is a lot of money to be made. Oil is going to come down to USD 40 a barrel. It could happen within the next few months or in years. It's a more viable price."
Sounds good to me, if it happens. But I don't make calls on currencies, much less oil and gas.
You're a very smart man on not calling oil and currencies. Might as well just gamble and look at the flashy lights in Vegas.
I do think we are a minor global slowdown away from seeing oil at 40 bucks a barrel, though...
-- The Assetman.
Posted by: The Assetman | June 27, 2006 at 12:47 AM
Assetman,
I feel you're right.
As for me, I don't make market calls, either!
Posted by: John | June 27, 2006 at 10:58 PM