More like temporary rallies.. than a bull market one..The current 'credit'
crisis is so bad that even the most senior investors like Mobius can act like a
stand up comedian saying jokes line such as "next bull rally" :)
--- Pada Sen, 23/3/09, Herman Tobing <herman.tob...@gmail.com> menulis:
Dari: Herman Tobing <herman.tob...@gmail.com>
Topik: [ob] The next "Bull - market" rally has begun
Kepada: obrolan-bandar@yahoogroups.com
Tanggal: Senin, 23 Maret, 2009, 11:35 AM
March 23 (Bloomberg) -- The next “bull-market” rally has begun,
Templeton Asset Management Ltd.’s Mark Mobius said, refuting predictions that
the equities meltdown will continue.
“Stocks are building a base for the next bull market,” said Mobius, 72, who
helps oversee about $20 billion of emerging-market assets at San Mateo,
California-based Templeton. The fund is finding “bargains” in every emerging
market, which are in “better shape” than developed economies.
Templeton is looking for companies that are “cash-rich,” have low debt and
higher dividend yields, Mobius said in a Bloomberg Television interview from
Hong Kong. Mobius said he’s looking for companies that can invest for future
growth yet have cash left to pay shareholders.
The MSCI Emerging Markets Index has gained 23 percent since reaching a
four-year low on Oct. 27, outperforming the 2.5 percent drop in the MSCI World
Index and 9.5 percent decline in the Standard & Poor’s 500 Index.
Emerging markets made up the 10 best-performing stock benchmark indexes this
year, with China’s Shanghai Composite Index topping the list with a 26 percent
gain.
Brazilian oil company Petroleo Brasileiro SA, Cia. Vale do Rio Doce, the
world’s biggest iron-ore producer, and Chinese oil producer PetroChina Co. are
among the top holdings of Mobius’s Templeton Emerging Markets Trust.
To contact the reporter on this story: Chua Kong Ho in Shanghai at
kch...@bloomberg. net; Paul Gordon in Hong Kong at pgord...@bloomberg. net
Last Updated: March 22, 2009 22:47 EDT
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