Mark Mobius says bull market rally in emerging markets has just begun

The 1,000-point rally in Dow Jones Industrial Average over the past two weeks -- and 400 point spike today -- is spreading beyond the Atlantic and Pacific. Investors who wait too long to dive in may miss out, says one prominent money manager.

The next "bull-market'' rally in developing-nation stocks has started, says Mark Mobius, executive chairman of Templeton Asset Management Ltd. in San Mateo, California. As the U.S. treasury unveils details to revive the banking system, stocks are rallying around the globe, including Russia and China. Mobius says there are bargains popping up in every emerging market.