近期，被誉为“新兴市场教父”的著名投资人马克·麦朴思（Mark Mobius）公开表示，他目前并不看好追高黄金。尽管黄金价格在地缘政治紧张、通胀担忧和全球货币政策宽松的背景下持续走强，但麦朴思认为当前金价已处于历史高位，进一步上涨空间有限，且缺乏基本面支撑。他指出，黄金本身不产生现金流，其价值完全依赖市场情绪和避险需求，一旦风险偏好回升或美联储转向紧缩政策，金价可能迅速回调。相较之下，麦朴思更倾向于投资新兴市场的优质股票，尤其是那些估值合理、具备长期增长潜力的企业。他认为，这些资产不仅能提供股息回报，还能从全球经济复苏中受益。麦朴思的这一立场反映了其一贯的价值投资理念——注重基本面、规避泡沫、追求长期稳健回报。对于普通投资者而言，他的观点提醒我们在追逐热门资产时应保持理性，避免盲目跟风。
Recently, renowned investor Mark Mobius—often dubbed the ‘Godfather of Emerging Markets’—publicly stated that he currently does not favor chasing higher gold prices. Although gold has continued to rally amid geopolitical tensions, inflation concerns, and accommodative global monetary policies, Mobius believes the metal is already trading at historically high levels with limited upside potential and insufficient fundamental support. He notes that gold generates no cash flow and its value relies entirely on market sentiment and safe-haven demand; thus, any return of risk appetite or a hawkish shift by the Federal Reserve could trigger a sharp pullback. Instead, Mobius prefers investing in quality equities in emerging markets—particularly those with reasonable valuations and strong long-term growth prospects. He argues these assets not only offer dividend income but also stand to benefit from the global economic recovery. His stance reflects his long-standing value investing philosophy: focusing on fundamentals, avoiding bubbles, and seeking sustainable long-term returns. For retail investors, his perspective serves as a timely reminder to stay rational and avoid blindly following market trends.
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