‘Bull Market’ Has Begun, Templeton’s Mark Mobius Says

(Bloomberg.com) The next “bull-market” rally has begun and there are bargains in every emerging market following a record slump in stocks, Templeton Asset Management Ltd.’s Mark Mobius said.

The MSCI Emerging Markets Index has jumped 26 percent since reaching a four-year low on Oct. 27, outperforming the 4.2 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 benchmark gauges this year, led by the 28 percent gain for China’s Shanghai Composite Index.

“You have to be careful not to miss the opportunity,” said Mobius, who helps oversee about $20 billion of emerging- market assets as executive chairman at San Mateo, California- based Templeton. “With all the negative news, there is a tendency to hold back.”

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