By Steve Blumenthal
“Time to put 25% to 30% of your wealth in cash.”
– Mohammed El-Erian
“If you go to an investment adviser, they’ll tell you cash is wasted,” says El-Erian, chief economic adviser at Allianz. ‘I don’t think so.’ ‘You will have many opportunities to buy really good names at beaten down prices,’ says El-Erian, whose latest book, “The Only Game in Town,” was released this week.” Source
25% to 30% in cash? Take a step back and think about that for a second.
But what do you do when interest rates reach zero? Here is more on the cash subject from famed hedge fund manager, Ray Dalio, who founded Bridgewater Associates, the world’s largest hedge fund:
- “The discount rate is just...
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