“Most of the market research these days asks the same question: Is this the market bottom? To answer that question, they look at historical valuations and try to extrapolate from them. And most of the time that is the right approach.
However, right now we are going through major and unpredictable changes in the financial landscape. As a result, “Is this the bottom?” is the wrong question. The question we should be asking is, “In this new world, how do the historical variables morph, and what are the unintended consequences of government policy?”” – Mohamed El-Erian, CEO and co-chief investment officer, PIMCO
Our firm has been, and will continue to be actively researching the answer to that question. In research, shortcuts only put you further behind. We are consistently reflecting our research and best thinking into our client’s portfolios.
~Tony
Source: Fortune
