Mark Mobius on Russia, Oil Stocks and Dangers for Long-Term Investors

How does traveling 250 to 300 days a year for work sound to you? It sounds fine to Mark Mobius, the executive chairman of the Templeton Emerging Markets Group, who does just that, year after year.

All those air miles criss-crossing continents give the 78-year-old Mobius, who oversees a team of more than 50 people managing some $45 billion, a rare perspective on emerging and frontier markets. The Long Island, N.Y.-born investor spoke with Bloomberg from Hong Kong about where to find "emerging markets investments" in the United States, the extreme risks threatening investors over the next decade and how he manages his own money. An edited transcript: