Veteran investor Mark Mobius of Templeton's emerging markets Investment Trust is of the view that small cap stocks in emerging markets have seen more consumers than developed markets which are betting big on internet-related stocks. According to him, developed markets are focusing on stocks that are not really making any money but are flying because people are really excited about internet.
Mobius believes emerging markets haven’t got to that yet but will reach there soon as a lot of Chinese internet stocks will find their way into the index and that will have a big impact on the markets.Meanwhile, Mobius is fairly bullish on Greece and is confident that the country will come up with something that is workable. “I think a lot of people forget that it’s not only about Greek debt but about Greece in the North Atlantic Treaty Organization (NATO). NATO is an important part of the Europe and Greece is the key member of NATO and therefore, it will be important in terms of a financial story as well as military story, he said.
He, however, is cautious on Russia because the sanctions are still in place. “It could get worse, you don’t know the next step for Russia, Ukraine and so, I would hesitate. The market has strengthened but I would be very careful,” he added.
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