Mark Mobius, founding companion of Mobius Capital Companions, says shares have extra room to fall on this bear market, so buyers ought to keep in money for now. “We have a methods to go,” Mobius informed CNBC’s “Squawk Field” on Tuesday. “It might be time to start out nibbling at sure particular person shares that look good, however in any other case, greatest to maintain some money on the sidelines after which go in.” The veteran investor is named a pioneer in rising markets and made his title at Franklin Templeton. Mobius defines a bear market as a 30% or extra drawdown from highs. The S & P 500 is down about 18% from its report, whereas the Nasdaq Composite is off by greater than 30%. Final week, the S & P briefly fell into bear market territory, falling by the standard definition of greater than 20% from a excessive. The investor stated the massive drawdown within the Nasdaq and within the value of bitcoin this yr are main indicators of a bear market. Defensive shares like utilities are outperforming this yr, Mobius famous as one other sign of extra ache forward. Nonetheless, Mobius advisable buyers begin eyeing which shares so as to add when the worst of the bear market passes. “There may be going to be great alternatives on this bear market. It may be a chance that in all probability cannot be missed inside the subsequent month or two months,” Mobius stated. “Now’s the time to start out fascinated about what to choose up,” he added. The investor stated he nonetheless likes know-how shares, specifically firms with profitability and progress. “Know-how goes to be persevering with to hit these nations world wide and corporations which might be supplying the know-how will do very properly,” Mobius stated. Healthcare and building supplies are additionally two areas of the market catching Mobius’s eye.