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Chris Alman from CALSTERS

edited May 3 in Other Investing
Fascinating interview on Bloomberg today. Not sure I agree with him, but he certainly has strong opinions and not afraid to voice them.

- The Fed “better not stop at 3%” (with the discount rate). If they don’t soon raise it to 5% or higher “they’re not doing their job”.

- The surreptitious release of the SC draft opinion contributes to the polarization and disfunction of our politics. He fears the country is becoming “ungovernable”.

- He sees equities as way overvalued.

- Inflation is here to stay.

- Investors are ignoring the negative implications of the war in Europe.

- He’s not predicting “stagflation.” However, it it developed it would result in “nothing working” in terms of investments.

- He’s been moving more and more into assets that provide inflation protection. Likes countries rich in natural resources.

- The individual investor - even those in retirement - “still loves equities”.

- Intermediate term bonds may offer better value than the S&P.

- The 60/40 (stocks/bonds) portfolio is outdated / unpopular today. Has been largely replaced by the 70/30 and “even the 80/20” by most investors.

- He recently spoke to Howard Marks. Marks agrees that with careful selection, there is some value in HY.
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