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- Mark Mobius generally avoids buying bank stocks, saying their operations are too opaque.
- More Fed rate hikes could add pressure on bank deposits, potentially creating new havens, he told CNBC.
- Mobius said he has an account in a Dubai bank, and recommended that depositors diversify.
Billionaire investor Mark Mobius said he avoids buying bank stocks and recommended keeping deposits diversified.
The ongoing banking turmoil — exacerbated by rising interest rates that are devaluing long-term bonds held on bank balance sheets — is creating tremendous uncertainty that won't go away quickly, he told CNBC on Wednesday.