“We don't see any reasons why we should be panicking out of these markets. If you are in with a six-month view, then don't touch the market. If your view is more like five years, then there is a good opportunity and good value out there," Mobius said. “There's been a healthy correction. It's good to have a correction. We have taken advantage of it, especially in Turkey," he added.

The article has Mobius praising Turkey's fundamentals and the country's moving toward joining the European Union. Though it also has him saying that whether it gets in the EU or not is immaterial.

Further down the piece, Mobius predicts the price of oil(!):

Templeton, Mobius said, has “quite a lot" in oil and gas, adding that some of these markets have gone up more than they expected and “probably more than they should".“But when they will come down, they will come down to levels that are still much higher than they were. And even at those levels there is a lot of money to be made. Oil is going to come down to USD 40 a barrel. It could happen within the next few months or in years. It's a more viable price."

Sounds good to me, if it happens. But I don't make calls on currencies, much less oil and gas.

[Editor's note: Templeton's Emerging Market Fund is traded on the NYSE under the ticker EMF.]

EMF 1-yr chart:

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John Bethel

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