Not worried about China growth, fundamentals excellent: Mobius

Mark Mobius, Franklin Templeton Investments says he is not terribly concerned about growth in China. He believes fundamentals in China are still excellent.

According to him, the market volatility will likely continue this year and periods of heightened volatility is a potential investment opportunity. Volatility allows us to pick up shares that are unduly punished, Mobius says.

Meanwhile, Marc Faber of Gloom, Boom & Doom Report says stock market downturn could result in S&P 500 hitting lows not seen in 5 years. He feels S&P 500 could plunge to 2011 lows of 1099.

A 40 percent plunge in the S&P 500 is his "medium bearish" scenario, says Faber, adding most bearish prognosis envisages S&P 500 falling back to 2009 nadir of 676. He advises buying gold & shares of gold miners.