Friday, June 5, 2009

Hey, Mobius, WTF?

Mark Mobius, the famed international man of mystery and money manager, is extolling the "explosion" of capital that will lift world markets, or so 
the headline reads.  But, when we read the article, the money quote:

While the “longer-term trend is up” for emerging-market stocks, they may suffer a “correction” of as much as 20 percent in part because some hedge funds are selling shares in a bet they will decline, Mobius said.

Thanks.  I'll sit in cash until we're down 19.5%.  Explosion, indeed.

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