yakers
Thinks s/he gets paid by the post
I had a discussion with a young fellow who works at Western Asset Management, one of the 3 biggest institutional asset managing companies. They are about the size of PIMCO. In a general discussion he said his folks expect 1) there will not be a deep recession, only a ‘soft landing’, 2) oil will cost more next year than this year, and 3) the Fed will not lower the prime rate. Also said it is not a good time for individuals to own bonds although institutions may want to. Just general stuff, not advice on my portfolio but these folks are managing $Bs with this general orientation. Oh yeah, you may want to follow what Bill Gross (of PIMCO) does but pay no attention to what he says.
I was disappointed, I expect to retire in the next year or so and was actually looking to have a recession now so I could retire after it. A long, slow decline is worse, to me, than a short, sharp one. The guy knows the limits on forcasting but he manages a lot of money successfully so its not an opinion I would lightly dismiss.
I was disappointed, I expect to retire in the next year or so and was actually looking to have a recession now so I could retire after it. A long, slow decline is worse, to me, than a short, sharp one. The guy knows the limits on forcasting but he manages a lot of money successfully so its not an opinion I would lightly dismiss.