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El-Erian. This item was behind a paywall before the week-end.
I agree that the market is very squirrelly right now, but I’m not of the mind to make sweeping wagers to get in (or out) of anything. With a few exceptions, my portfolio is leaning into the value camp, and I expect the pharmaceuticals, utilities and REITS to hold up pretty well as they did in the early turmoil. I do have great respect for this advisor though.
quite right. makes sense. my own plan was to buy and hold forever, until reality and some negative experiences taught me not to hold such a position anymore. now, i buy and hold... until the stock/fund or bond fund slides clearly in a southerly direction. (But bonds are a different sort of animal.) Let someone else own those losers. But I don't make many changes. My choices are high-conviction, after doing lots of homework.
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