Is the bear market already over? History says not

Stocks may have further to fall. But brave investors can start nibbling now, says emerging-markets guru Dr. Mark Mobius.

Health worker taking market trader's temperature in Vietnam © Linh Pham/Getty Images
Authorities have made a huge effort to contain the crisis © Getty
(Image credit: Health worker taking market trader's temperature in Vietnam © Linh Pham/Getty Images)

The uncertainty and panic surrounding the coronavirus crisis has led to rollercoaster stockmarkets. One question I am frequently being asked is: “Have we reached the bottom yet?” It all depends on how quickly we can contain the virus, how quickly a cure and a vaccine can be found, and how quickly regular economic activity can be resumed.

However, since I first started investing in emerging markets back in 1987, we have experienced a number of crises and bear markets, including the Asian financial crisis, the subprime-mortgage crisis and others. We have also witnessed and profited from the recoveries that followed.

Subscribe to MoneyWeek

Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Get 6 issues free
https://cdn.mos.cms.futurecdn.net/flexiimages/mw70aro6gl1676370748.jpg

Sign up to Money Morning

Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter

Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter

Sign up
Explore More

Dr. Mark Mobius has spent over 40 years investing in emerging and frontier markets, managing funds with more than $40bn in assets. In 2018 he launched Mobius Capital Partners with two former colleagues. The firm places a particular emphasis on improving governance standards in emerging and frontier-market companies.