(Bloomberg) – Emerging markets offer good long-term buying opportunities as economies globally improve, Robert Kapito, co-founder and president of BlackRock Inc., said. There is too much short-term thinking in investing and foreign investors should be diversified in order to survive this period of market volatility, Kapito said in an interview with Bloomberg Television’s Susan Li.
Kapito said the weakness in emerging markets is “overdone” and he expects equity markets to perform better than fixed income. “The emerging markets are going to account for about 60% to 65% of the world’s growth over the next 20 years,” said Kapito. “If you are investing for the long term, this is a good opportunity to get reinvested into the emerging markets.”