Speaking recently on The Rules of Investing podcast, legendary investor Mark Mobius shared his unfiltered views from decades of experience. In 1987, Mobius was recruited by Sir John Templeton to lead the Templeton Emerging Markets Group at Franklin Templeton Investments. Over more than three decades, he expanded the group’s assets under management from $100 million to over $50 billion, establishing a global presence with offices in 18 emerging markets
Mobius sees the world through a macro lens: “What’s happening is that it’s not only about the United States and Trump but it’s about what’s happening globally… It’s quite a revolutionary development that we’re witnessing.” He notes the tariff wars have “resulted in all these countries thinking anew about what the future is for them.”
But he’s quick to recognize that few companies are fully prepared. “Most of them are not,” Mobius said, referring to companies struggling to shift away from Chinese supply chains. “They resisted change. Now of course they’re forced to make a change.”
Still, for long-term investors, that disruption breeds opportunity. “Already countries like Vietnam are beginning to pick up the slack, but a lot more has to be done.”
Mobius doesn’t shy from risk. Reflecting on his time investing in Russia, he recalled: “Even with us arriving later we were able to find incredible bargains… a company called Look Oil… totally private… fast growing.” But he’s clear-eyed about danger too: “We were in Venezuela… when Chavez took over we decided to get out.”
So how do you navigate such unpredictability? “At the end of the day it’s totally unpredictable,” Mobius admitted when discussing currency movements. “What we did is start looking at assets… in dollar terms and that’s the way we invest.”
He still believes emerging markets offer compelling upside. “Emerging markets are double the growth rate of the United States,” he emphasized. “That company is going to be doing much better because the country is growing at 7%.”
India, for example, stands out: “1.2 billion people… average age in India now is about 26 years compared to about 38 in China… technology is hitting these countries… and that’s accelerating their growth rate.”
Yet Mobius also warns about investor psychology. “They’re too short term… they’re getting panicked by the developments… People have to be patient and be willing to roll with the punches.”
Asked where he’d put money for five years, his answer was revealing: “Probably best bet would be S&P ETF… It’s one stock but at the end of the day it’s diversified.”
For Mobius, investing and learning are intertwined. “Be a student. Be ready to learn every day, every hour of your life… you’re learning every day.”
You can watch the entire interview here:
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