WHEN: TODAY, MONDAY, APRIL 4TH
WHERE: CNBC'S "SQUAWK BOX"
Today, CNBC's "Squawk Box" kicks off its "Masters of the Market" series bringing together the biggest, most influential market minds and elite market movers. Following are excerpts from the unofficial transcripts of Mark Mobius, Executive Chairman Templeton Emerging Markets Group, and Ron Baron, Chairman & CEO Baron Capital.
Following are links to the video of the interviews on CNBC.com: Mobius http://www.cnbc.com/id/15840232?video=3000014451&play=1 and Baron http://www.cnbc.com/id/15840232?video=3000014395&play=1.
All references must be sourced to CNBC.
MOBIUS ON THE IMPORTANCE OF BEING DIFFERENT:
IN ORDER TO BE DIFFERENT FROM THE CROWD, YOU HAVE TO LOOK FORWARD FIVE YEARS THAT'S NUMBER ONE. AND IN ORDER TO GET AN ADVANTAGE ON THE MARKET YOU HAVE TO THINK LIKE NO ONE ELSE IS THINKING. YOU HAVE TO THINK DIFFERENTLY WHICH MEANS LOOKING FORWARD.
MOBIUS ON INFLATION:
ONE OF THE THINGS THAT PEOPLE DON'T REALIZE IS THAT THERE'S ALWAYS INFLATION. NO CURRENCY WILL HOLD ITS VALUE. NON. EVEN THE SWISS FRANC. SO, YOU'VE GOT TO BE IN EQUITIES IN ORDER TO BEAT THE LONG TERM INFLATION THAT EVERYBODY HAS.
BARON ON HAVING CHARACTER:
IT IS WHAT PEOPLE DO WHEN NOBODY IS LOOKING, THAT IS THE DEFINITION I USE FOR CHARACTER AND SO YOU ARE TRYING TO FIND PEOPLE REGARDLESS OF HOW BIG THE OPPORTUNITIES BUSINESSES HAVE, UNLESS THERE IS SOMEBODY WHO IS A LEADER WHO IS GOING TO MAKE IT HAPPEN IT IS NOT GOING TO HAPPEN.
BARON ON JAPAN:
THERE IS $300 BILLION DOLLARS OF DAMAGES THAT HAVE BEEN TAKING PLACE IN JAPAN AND THERE IS ONLY $30 BILLION THAT IS INSURED, SO PEOPLE ARE GOING TO WANT A LOT MORE INSURANCE AND CAPITAL IS FUNDABLE IT GOES ALL AROUND THE WORLD AND WHAT IS GOING TO HAPPEN IS CAPITAL IS GOING TO MOVE TO JAPAN WHERE THEY CAN GET HIGHER RATES.
BARON ON STOCKS:
STOCKS ARE A GREAT WAY TO PROTECT YOURSELF AGAINST INFLATION, AND INFLATION IS GOING TO COME JUST AS IT ALWAYS HAS.
BARON ON THE DOLLAR:
CONSIDERING THE POLICIES WE ARE FOLLOWING RIGHT NOW IT IS HARD TO THINK THAT YOU ARE NOT GOING TO CONTINUE TO LOSE MONEY, TO LOSE VALUE IN YOUR CURRENCY VERSUS THINGS, A CHINESE INVESTMENT COMPANY BELIEVES THAT WE ARE GOING TO LOSE 4% OF THE VALUE OF THE DOLLAR EVERY YEAR GOING FORWARD.
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