The January 2009 investment advisory from PIMCO CEO Mohamed El-Erian concludes with this:
…Where does this leave investors? As my colleague Paul McCulley likes to say, only a thin line separates courage from stupidity. Investors should position their portfolios predominantly under the umbrella of government support rather than outside it; they should follow government actions rather than pre-empt them; and they should focus primarily on the senior parts of the capital structure.
0 Responses to “No Immunity From Policy Action”