As the GenZ population strives to become wealthy in a jiffy, ace global investor Mark Mobius has an advice for them: Take care of your health first.
Speaking to IANS, 88-year-old Mobius said that in his new work titled 'The Book of Wealth: A Young Investor's Guide to Wealth and Happiness', he stressed that the first thing you should look at is staying healthy.
"Take care of your health. Because you can be wealthy, but if you are not healthy, it's not going to be a good game. At the end of the day, you are need to be patient," said Mobius, who runs the Mobius EM Opportunities Fund for emerging markets.
He added that "there are some people that can get rich quick, as a result of either their abilities or luck or a combination of both. But most people are not able to do that, so you better off taking your time investing in good stocks, holding them and then waiting for the returns to come in."
The fact is that "good stocks will always perform well", he added.
On investing in gold and silver keeping the geo-political situation in mind, the global investor said that the portfolio should always have physical gold.
"I recommend maybe 10 per cent, or maybe even 20 per cent of gold in your portfolio. But 10 per cent would be just good. But at the end of the day, you're better off with stocks, with equities as well," he suggested.
According to him, all stock markets are currently booming and things are going to change very fast and there's no question that the markets will go down eventually.
"The question is when, and the good news is that bull markets last longer than bear markets. And bull markets go up more in percentage terms as bear markets go down. So you're better off being optimistic than being pessimistic," Mobius told IANS.
"I believe the bull market in India, with corrections along the way, will continue to do very well because the country is on the track to a higher and higher economy and high growth rates," he added.
(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)
