From Newsmax:
Pimco co-CEO Mohammed El-Erian warns about what he sees as excessive optimism — or at least complacency — currently in financial markets.
“Judging from market valuations, I sense quite a gap between consensus market expectations and key political and economic realities, especially in the U.S.,” he says.
“If the gap isn’t bridged by the validation of the more optimistic expectations, investors may well find that January’s global equity sell-off was just a precursor to...
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More from Pimco:
PIMCO: Stocks set for a sharp drop soon
Bond King Gross: Do not invest in the U.S.
Top blogger Zero Hedge: Bill Gross is a supreme hypocrite
