Mark Mobius is 'very, very skeptical' of bank stocks, keeps cash in Dubai

Billionaire investor Mark Mobius said he avoids buying bank stocks and recommended keeping deposits diversified.

The remarks come after the failure of Silicon Valley Bank and Signature Bank ignited worries about other regional lenders, spurring a rush of withdrawals and calls for federal deposit insurance to expand. But he still urged some caution, saying depositors should be diversified."You can't put all your eggs in one basket," he added.

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