Taps Coogan – November 29th, 2023

Mark Mobius, Mobius Capital Partners founder, legendary emerging markets pioneer, and John Templeton acolyte, recently spoke with a Indian CNBC affiliate to reiterate his bullish outlook on India and his broadly bullish outlook for global markets and US markets in 2024.

Mark Mobius:

“I think we’re looking at a pretty good year coming in the markets. It’s going to be very interesting and exciting. It’s very important to remember that there’s no direct correlation between interest rates and the market. Sometimes interest rates go up and and the market goes down. Sometimes interest rates go down and the market goes down…so given that situation we have to look at other factors and the other factor in the US is… growth in the economy. Oddly enough, with all the challenges, China, Ukraine, every other challenge you can think of globally, the US actually becomes more active, (US) industry tends to benefit from these kinds of changes. SO we are seeing employment at high levels and the economy doing very well even during this very difficult political environment. So, I think this is going to continue into next year…”

Regardless of what you think about his reasoning, Mr. Mobius’s forecasts on a host of issues have a been remarkably accurate over the last many years – albeit not perfect. He predicted a relatively strong year in 2023 with no formal recession, has been warning investors to move out of China and into India for years – a fantastic call, correctly and quickly called that the Ukraine War was going to be long and drawn out but not overly bearish for global markets, started warning about stocks being overvalued a few months before the highs in 2021, and has long been cold on European stocks but bullish on the US, etc…