This week’s issue of Forutne kicks off with a great interview with PIMCO’s El-Erian (who I believe is of the best visionary investors of our time). This is another solid read, yet simple enough for the novice. Here are selected excerpts.
“We’ve had the biggest stimulus in history, fiscal and monetary… And there’s a natural inventory cycle… These are not permanent sources of growth. So you need to hand off to the private sector — to consumers and companies — and for that to happen, a lot of very positive things have to occur, and they are unlikely to occur.”
“[American consumer saving is] absolutely a good thing.”
“…the asset allocation of tomorrow is much more global than the asset allocation of yesterday… We’re moving toward a much more fluid world in which, at some point, inflation will come back.”
http://money.cnn.com/2009/12/09/news/economy/mohamed_el_erian.fortune/index.htm
