While the turmoil in the Middle East has spooked many investors, Templeton Asset Management’s Mark Mobius sees it as a positive over the long haul.
“My outlook is very positive because I see these political changes result in more open societies, more dialogue and therefore better environment for markets including stocks and bonds,” Mobius says, according to The Economic Times. “I am not saying the ride is going to be smooth and in many places we could see some bumps but the overall trend is positive.”
Mobius also says that the timing of the upheaval in the Middle East may be beneficial. “One of the benefits of the events happening at this time in history is that there is a lot of liquidity in the global economic system,” he said, according to Bloomberg. “The U.S. has been printing money, China has been printing money, Europe has been printing money. Everybody is pumping money into the system and this money needs a home. It’s looking for a home.”
Mobius also said he expects oil prices to continue their upward trend, expressed confidence in China’s ability to deal with an “overheating” problem, and talked about why he’s very high on Brazil.