June 04, 2009
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in this 3 week long surge by the emerging market stocks.
Up in pre-market CGA, IBN, APWR, YZC, FEED
Mobius Says Money Supply to ‘Explode,’ Lift Markets (Update2)
By Michael Patterson June 4 (Bloomberg) --
The money supply is set to “explode” worldwide and boost emerging-market stocks as central banks “print money,” Templeton Asset Management Ltd.’s Mark Mobius said. Emerging-market stocks will keep beating developed markets, said Mobius, who helps oversee about $20 billion of emerging- market assets as executive chairman of Templeton. Mobius said he’s trying to stay fully invested in emerging markets and has been buying in Russia. “There has to be a correction along the way” in emerging- market stocks, said Mobius, who spoke at a press briefing in London. “The longer-term trend is up.” Hedge funds are probably betting against emerging-market stocks and that is adding to volatility, he said. Commodities will continue to gain and the dollar will weaken in the “longer term,” Mobius said. Mobius said he may be investing in Iraq in a year and is looking to invest in Iran. To contact the reporters on this story: Michael Patterson in London at email@example.com; Last Updated: June 4, 2009 08:01 EDT