You don’t build a career in emerging markets investing over a few decades without running into big surprises — a military coup, a devaluation, a natural disaster — that can turn your carefully chosen investments on their head. Yet Mark Mobius, sometimes termed the “father” or “dean” of emerging markets, says this about what could quake global markets in the coming months: “The big surprise I think will come if Larry Summers is selected,” to lead the Federal Reserve, said Mobius, executive chairman of Franklin Templeton’s Templeton Emerging Markets Group, in a MarketWatch interview in early August. (full story)