Did Mark Mobius just tell investors to ditch Saudi for Egypt? The Khashoggi murder has really put off foreign investors from Saudi Arabia, said Mobius Capital Partners Mark Mobius. “If the leadership has questionable governance, how about the companies?” Mobius told Bloomberg in an interview. “There are other things going on that are very risky … Unfortunately because of this incident, a lot of people are afraid of Saudi Arabia,” he said. “Who could be next?” Mobius doesn’t think Saudi Arabia’s inclusion in the MSCI emerging markets index will save it from the backlash, doubting MbS’ commitment to reform.

On the flipside, the legendary emerging markets investor plugged Egyptian equities: “Mobius said he would rather invest in Egyptian stocks, because unlike most nations in the Gulf, the North African country isn’t too closely allied with Saudi Arabia.” We’re not certain we can say that last bit is true, but we’ll take the overall sentiment.