The financial problems created by the subprime mortage crisis "have not really been solved. Banks that were too big to fail have gotten bigger. Bank balance sheets around the world are not that healthy. So you have a situation which, if not corrected, will result in another crisis."
He said he doesn't know when this crisis will take place but his portfolio includes stocks "we think can survive such a crisis," including consumer stocks and commodities.
Mobius is cautious on China, keeping the emphasis on shares of oil companies and "anything related to consumer" including automobile manfacturers and department stores, which is where he sees the most growth.