Perma-Bull Mark Mobius Talks His Book ($600 Trillion Derivative Cluster Bomb)
In a perfect world, Mark Mobius would be required by the SEC to register as a shill. It might also help my mood if Craftsman would finally pay attention to my letters and declare him a tool.
If you're looking for proof, then read this. Need more convincing, then look here. In late August of 2007, he declared the sub-prime contagion contained and the financial crisis to have run its course. It hadn't even begun. Nice call, Mark. He was too busy cheerleading for new market highs to substantively consider the facts.
He's a bull-market Susan, pulling out the pom-poms, and donning the short skirt any time the cameras are rolling. In 23 years I have never heard him make a bearish call. And this clip is no different.
Why then are we showcasing this video? For the first time in memory, Mobius said something of actual value, as he reminds viewers of the $600 trillion in derivatives still floating on balance sheets (or hidden off-sheet) at corporations, mostly financial institutions, all over the globe.
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