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Economic Times
15-05-2025
- Business
- Economic Times
India top market for me, but regulatory red tape holding it back: Mark Mobius
Live Events India outlook remains firm despite tensions Focus on fundamentals, not headlines 'I refuse to play a fool's game' (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel Veteran emerging-markets investor Mark Mobius on Thursday reaffirmed his bullish stance on Indian equities , calling the country his 'top market' despite heightened geopolitical tensions with Pakistan. However, he warned that bureaucratic red tape is slowing foreign investor access, saying regulatory delays have held back his new fund's deployment in the a post on microblogging site X (formerly Twitter), Mobius reiterated his long-held view that market timing is futile. 'People often ask how I time the market. The simple answer is, I don't,' he wrote. 'Trying to guess which way the wind will blow tomorrow is a fool's game. Markets rise and fall for reasons that don't always make sense. Those who spend their time predicting daily market swings tend to spend a lot of time being wrong.'Mobius linked his latest blog post titled "Avoiding the Fool's Game" in his X post, in which the Mobius Capital Partners co-founder said that his Mobius Emerging Opportunities Fund had been holding 95% of its assets in cash just two weeks ago, but that figure has now dropped to 60% as the fund has started redeploying capital.'That's just the nature of this business. One moment you're waiting, the next you find something worth buying,' Mobius who has been investing in developing economies for more than three decades, played down the impact of fresh friction between India and Pakistan on markets, calling such events historically inconsequential to long-term fundamentals.'These two countries have had a long and complicated history, and the latest round of friction, while serious, isn't new,' he said. 'A ceasefire has been announced, which should help ease concerns in the short term. But in my experience, these tensions rarely have a lasting/significant impact on the market itself.'Instead, Mobius identified regulatory inefficiencies as the more serious headwind for investors. 'Since our fund is new, we've found it slow and difficult to get proper access to the Indian market,' he said. 'The paperwork alone has held us back for months. If India wants to attract more long-term capital, simplifying these processes would go a long way.'While Mobius said the macro picture continues to matter, citing lingering uncertainties in the U.S.–China trade relationship, he urged investors not to get 'caught up in news headlines.''For the U.S.–China trade relationship, things may look more stable on the surface now that some agreements have been reached. But implementation is what really matters and non-tariff barriers will likely remain a sticking point,' he veteran investor cautioned that market volatility is likely to persist in the near term. 'So I do expect markets to be choppy for a while,' he said. Still, he encouraged investors to stay focused on company fundamentals: 'Do your homework and stay focused on searching for good businesses with strong fundamentals. That's really all that matters when it comes to investing.'Mobius also highlighted mid-cap stocks as an area of particular interest for his team. 'They're not always on the radar of big institutional investors, and that's where we often find value.'Mobius's blog post ended with a photo of him being mock-threatened by a Jack Sparrow impersonator at the Atlantis hotel in The Bahamas. In the image, the costumed pirate playfully grabs Mobius by the collar while pointing a fake rifle. The caption reads: 'I refuse to play a fool's game (photo taken at the Atlantis hotel in The Bahamas).'The emerging-markets investor's remarks come at a time when global market sentiment remains fragile. After an initial rally earlier this week on optimism over a U.S.–China trade truce and high-profile investment deals from the Middle East during former President Donald Trump's Gulf tour, equities lost steam by Thursday. MSCI's broadest index of Asia-Pacific shares outside Japan slipped 0.15%, while U.S. equity futures also edged lower ahead of key data were awaiting U.S. retail sales figures and earnings from Walmart for insight into consumer sentiment, as well as a speech by Federal Reserve Chair Jerome Powell for cues on the interest rate read | Mark Mobius says his funds hold 95% in cash on trade war risks (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)


Time of India
15-05-2025
- Business
- Time of India
India top market for me, but regulatory red tape holding it back: Mark Mobius
Veteran emerging-markets investor Mark Mobius on Thursday reaffirmed his bullish stance on Indian equities , calling the country his 'top market' despite heightened geopolitical tensions with Pakistan. However, he warned that bureaucratic red tape is slowing foreign investor access, saying regulatory delays have held back his new fund's deployment in the country. In a post on microblogging site X (formerly Twitter), Mobius reiterated his long-held view that market timing is futile. 'People often ask how I time the market. The simple answer is, I don't,' he wrote. 'Trying to guess which way the wind will blow tomorrow is a fool's game. Markets rise and fall for reasons that don't always make sense. Those who spend their time predicting daily market swings tend to spend a lot of time being wrong.' Mobius linked his latest blog post titled "Avoiding the Fool's Game" in his X post, in which the Mobius Capital Partners co-founder said that his Mobius Emerging Opportunities Fund had been holding 95% of its assets in cash just two weeks ago, but that figure has now dropped to 60% as the fund has started redeploying capital. 'That's just the nature of this business. One moment you're waiting, the next you find something worth buying,' Mobius said. India outlook remains firm despite tensions Mobius, who has been investing in developing economies for more than three decades, played down the impact of fresh friction between India and Pakistan on markets, calling such events historically inconsequential to long-term fundamentals. 'These two countries have had a long and complicated history, and the latest round of friction, while serious, isn't new,' he said. 'A ceasefire has been announced, which should help ease concerns in the short term. But in my experience, these tensions rarely have a lasting/significant impact on the market itself.' Instead, Mobius identified regulatory inefficiencies as the more serious headwind for investors. 'Since our fund is new, we've found it slow and difficult to get proper access to the Indian market,' he said. 'The paperwork alone has held us back for months. If India wants to attract more long-term capital, simplifying these processes would go a long way.' Focus on fundamentals, not headlines While Mobius said the macro picture continues to matter, citing lingering uncertainties in the U.S.–China trade relationship, he urged investors not to get 'caught up in news headlines.' 'For the U.S.–China trade relationship, things may look more stable on the surface now that some agreements have been reached. But implementation is what really matters and non-tariff barriers will likely remain a sticking point,' he noted. The veteran investor cautioned that market volatility is likely to persist in the near term. 'So I do expect markets to be choppy for a while,' he said. Still, he encouraged investors to stay focused on company fundamentals: 'Do your homework and stay focused on searching for good businesses with strong fundamentals. That's really all that matters when it comes to investing.' Mobius also highlighted mid-cap stocks as an area of particular interest for his team. 'They're not always on the radar of big institutional investors, and that's where we often find value.' 'I refuse to play a fool's game' Mobius's blog post ended with a photo of him being mock-threatened by a Jack Sparrow impersonator at the Atlantis hotel in The Bahamas. In the image, the costumed pirate playfully grabs Mobius by the collar while pointing a fake rifle. The caption reads: 'I refuse to play a fool's game (photo taken at the Atlantis hotel in The Bahamas).' The emerging-markets investor's remarks come at a time when global market sentiment remains fragile. After an initial rally earlier this week on optimism over a U.S.–China trade truce and high-profile investment deals from the Middle East during former President Donald Trump's Gulf tour, equities lost steam by Thursday. MSCI's broadest index of Asia-Pacific shares outside Japan slipped 0.15%, while U.S. equity futures also edged lower ahead of key data releases. Investors were awaiting U.S. retail sales figures and earnings from Walmart for insight into consumer sentiment, as well as a speech by Federal Reserve Chair Jerome Powell for cues on the interest rate outlook. Also read | Mark Mobius says his funds hold 95% in cash on trade war risks
Yahoo
30-04-2025
- Business
- Yahoo
Veteran investor Mark Mobius says he's 95% in cash after Trump's tariffs 'upset the apple cart'
Mark Mobius said he was taking shelter in cash while waiting for the tariff turmoil to settle. The emerging-markets specialist told Bloomberg that "cash is king." Mobius said the trade chaos could produce bargains, and countries such as India stand to benefit. A veteran emerging-markets investor said he's hoarding cash until the dust settles from President Donald Trump's trade war. Mark Mobius, the cofounder of Mobius Capital Partners, told Bloomberg TV on Wednesday that Trump had "upset the apple cart" of global trade with his tariffs. "At this stage, cash is king," he said. "So 95% of my money in the funds are in cash." Trump recently rolled out a 10% base tariff on the vast majority of foreign goods entering the US, with a 145% rate on many imports from China, which responded with a 125% tariff on US goods. This has reignited fears of inflation and recession on Wall Street, roiling stocks, bonds, and the dollar this month. Mobius said he was eyeing some emerging-market stocks in a "very, very careful way," and expected the US-China trade war to benefit countries such as India. But he said he didn't expect to spot clear opportunities and deploy large sums for four to six months, adding that Trump may have struck trade deals by then. "Right now, we've got to keep the cash and be ready to move when the time is right," he said, adding that any investor earning a risk-free 4% or 5% by holding dollars is "doing quite well." Mobius' comments follow a blog post on his website earlier this month, in which he said, "Now more than ever, cash matters." "Not because you want to sit on the sidelines, but because it gives you the flexibility to invest when opportunities appear," he wrote. The investor, known for investing in countries such as Taiwan, South Korea, and India, also wrote that stocks have been pulled down by "gloomy news headlines" instead of fundamentals. "That's where value often hides," he said. In the blog, he added that a US recession was a "real risk," but pro-growth policies such as deregulation or corporate tax cuts could temper any downturn. He added that a global slowdown could occur if "trade tensions ripple through supply chains and consumer demand" — and touted gold as a "reliable hedge." Mobius worked at Franklin Templeton for three decades, building the asset manager's emerging-markets arm into a powerhouse with $40 billion of investments across 70 countries. He founded his firm in 2018. Mobius isn't the only investor to dump stocks and dash to cash. Warren Buffett's Berkshire Hathaway has sold a net $158 billion of stocks over the last two years, fueling a roughly 160% increase in cash, Treasury bills, and other liquid assets to a record $334 billion at the end of December. Read the original article on Business Insider Sign in to access your portfolio
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Business Standard
30-04-2025
- Business
- Business Standard
Mark Mobius holds 95% cash in funds, says trade jitters may last months
By Abhishek Vishnoi and Haslinda Amin Veteran emerging-markets investor Mark Mobius is keeping the bulk of his funds' holdings in cash as he waits out the trade-related uncertainty, which is likely to persist for up to six months. 'At this stage, cash is king. So 95% of my money in the funds are in cash,' Mobius said in an interview on Bloomberg Television on Wednesday. 'Right now, we've got to keep the cash and be ready to move when the time is right.' Mobius, who has been investing in developing markets for about three decades, said some emerging market countries such as India will do quite well in the current environment, 'but we have to wait until all of this evens out and we see a settling down of this uncertainty.' While many Wall Street managers and strategists have turned defensive in their equity allocation, Mobius's high levels of cash holdings still appear extreme. Investor sentiment on economic prospects is the most negative in three decades, a Bank of America Corp. survey showed earlier this month. Investors will likely only be able to assess market opportunities once the trade negotiations take place over the next four to six months, Mobius said. He added he will not hold so much cash for 'more than three to four months' and will start to deploy some of the funds depending on where the opportunities are. 'If the market comes down further, of course we will put more money in,' said the co-founder of Mobius Capital Partners. Mobius had said in an interview with newspaper Economic Times in 2023 that he oversaw about $300 million in assets under management at the time. Investors hunkering down in US dollar cash instruments are missing out on an epic rest-of-world rally. The MSCI World Excluding United States Index, which is denominated in the US currency, is up about 10% so far this year after an unprecedented 15-day winning streak. Mobius expects India to benefit at the expense of China as Trump looks to reshape the global supply chains away from Asia's largest economy. 'The US is very eager to make an agreement with India, because that will be the alternative to China,' he said, adding that Indian stocks tied to software and electronics hardware are on his radar. On the other hand, 'I will become very bullish on China' if the government shows a sea-change in its attitude on trade and domestic consumption. Mobius also said he owns 'a little bit with S&P 500 funds' to track the market and expects the gauge to rise from current levels by the end of the year as investor confidence returns to US investing. 'Trump doesn't want to see a big market crash, so he will be making adjustments and announcements, which will give a little bit more confidence for people in the market,' he said.


India Today
30-04-2025
- Business
- India Today
‘Cash is king,' says Mark Mobius amid trade war fears, backs India over China
Veteran investor Mark Mobius has put nearly all his funds in cash, saying global trade tensions could last another six months, reported believes 'cash is king' right now, with nearly all his funds parked in cash while he waits for the right moment to invest, said Mobius while speaking to Bloomberg who has spent over 30 years investing in emerging markets, believes the uncertainty around trade wars makes it risky to invest right now. However, he does see hope in countries like India, which he says could benefit as global supply chains shift away from He added that the current situation may take a few months to settle, and he plans to hold onto the cash for no more than three to four other fund managers are playing it safe too, Mobius's 95% cash position is seen as unusually cautious. Still, some experts say this could be a missed opportunity, as other global markets outside the US have seen strong gains in recent who co-founded Mobius Capital Partners, had about $300 million in assets under management last year. He expects India to gain as the US tries to move away from relying too much on China and is keeping a close watch on Indian stocks linked to software and electronics China, Mobius said he would turn positive if the country makes strong changes in trade policies and boosts domestic mentioned holding a small portion in S&P 500 funds to stay in sync with the market and expects the index to climb as investor confidence picks up in the US. He believes Trump will take steps to avoid a major market crash that restore investor trust.