Mark Mobius, the veteran emerging markets investor, has warned a bubble is forming in certain parts of the global financial market, driven in part by the continued frenzy around cryptocurrencies and investors piling into non-profitable companies.

“We are in a bubble in some areas of the market, particularly in the opaque cryptocurrency market and in some companies that are popular for one reason or the other, even though there are continuing earnings losses,” Mobius told Financial News.