Mobius on the Markets

I came across this short interview with Mark Mobius, Templeton's emerging markets guru. Asked if there are any "safe havens" found in emerging markets these days, he answers:

The best strategy here would be to remain diversified rather than pick one or two countries since it would be difficult to know which market will outperform. Thus, maintaining a diversified portfolio will allow an investor to better manage his/her risk levels. Also, value is the key. The best protection is to select companies that are selling at a discount to what they are really worth and companies with good managements capable of realizing the firm's intrinsic value.

That's also good advice for those of us investing mostly in developed markets.