“People should not see these cryptocurrencies as a means to invest. It is a means to speculate and have fun. But then you have to go back to stocks at the end of the day,” added businessman Lisa Juan José Gutiérrez Mayorga.
Criticism of cryptocurrencies
Juan José Gutiérrez is not the only one who has criticized cryptocurrencies. JPMorgan Chase CEO Jamie Dimon has also criticized bitcoins, most notably recently, calling them “worthless” and “fool’s gold.”
Billionaire investor Paul Tudor Jones, on the other hand, believes that cryptocurrencies have their place. Furthermore, this American investor told CNBC last month that he believes cryptocurrencies are a better bet against inflation than even gold.
Mobius, a global markets guru who had a long career at Franklin Templeton before striking out on his own, believes stocks are the best bet due to monetary and inflation factors.
“Stocks are definitely the answer because currency devaluation is not going to go away, which means inflation is going to continue at a high rate in the future,” he said. “We must not forget that the money supply of the United States has risen more than 30%.”
With so much liquidity floating around out there due to the easy monetary policies of Covid-era central banks. Mobius told CNBC in September that much of that money will eventually flow back into stocks.
In Wednesday’s interview on “Squawk Box,” Mobius said that he has invested heavily. “Our biggest holdings now, we have 20% of our fund in Taiwan, 20% in India and only 5 or 6% in China.”
The global investor said that he is currently looking for the best software and hardware opportunities in India and Taiwan, indicating his optimism about the technology.
The american market
He also said that he is paying attention to the US market, suggesting that he has enormous potential even as shares traded near all-time highs. “We think the US market is going to continue to thrive and continue to do well,” he said. Many US companies are also making money in emerging markets, he added.
The main problem for the Guatemalan market is the possibility that interest rates will rise. As investors expect to get a signal about possible rate hikes when the Federal Reserve wraps up its two-day November meeting on Wednesday afternoon. However, central bankers are expected to announce that they are reducing the amount of bonds they buy each month.
“Of course the big concern is interest rates, if the [world central] banks decide to raise interest rates after they have done their bond buying, that could be a big concern not just in the US, but in the US. emerging markets in general.
