Mobius defends EM equity's poor performance

Mark Mobius, about as famous as anyone as a guru for investing in emerging market stocks, admits the charts for the past two years don’t look good. “Emerging market equities have underperformed developed markets for the past 12 and 24 months,” he says. “But emerging markets have outperformed on a five- and 10-year basis.” The question is, will emerging markets resume their march to glory? Or has the asset class entered a new, less glamorous era? This being Mobius, executive ch…