Investor who predicted the start of the 2009 bull market: Beware of a double bottom

Legendary investor Mark Mobius is famous for a lot of things over the course of his nearly half-century career managing money, but even among his many accolades his prescient prediction of the beginning of the 2009 bull market stands out.

“I think it's a little early to predict that because given the lockdown that we have seen globally in so many countries around the world, the impact of this lockdown on businesses, it's not going to be seen immediately,” the Mobius Capital Partners founder told Yahoo Finance’s YFi PM. “So I believe that once the numbers start coming in, people will be somewhat disappointed.”

“The most expensive words in the world are ‘This time is different.’ I don't think this time it's different,” he said. “I think we’re probably maybe going to do a double bottom, jumping down again and pushing up again.”

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