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Mohamed El-Erian Biography

Mohamed El-Erian

Mohamed Aly El-Erian (Egyptian Arabic: [mæˈħæmmæd elʕeɾˈjæːn]; born August 19, 1958) is an Egyptian American businessman. He is chief economic adviser at Allianz, the corporate parent of PIMCO where he served as CEO and co-chief investment officer (2007-2014). He served as chair of President Obama's Global Development Council (2012-17), and is a columnist for Bloomberg View, and a contributing editor to the Financial Times.

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Mohamed El-Erian Quotes

Once you start moving [market] lower, then you trigger of all sorts of things. You trigger people who have to sell because they're over-levered. So they sell their winners and their losers. They're just trying to raise cash. So, what you then get is spreading malaise throughout the global markets.

Losers, Moving, People, Raise, Spreading, Trying

The theory is that if you take interest rates negative, people are going to say, "That's a silly game! I'm not going to lend my money to governments who want me to pay them. I am going to go into the stock market where I can get positive returns!"

Games, Government, Market, Pay, Positive, Silly

As we spend more, and as companies are pushed to invest, they say, "Hey wait a minute! There's more demand in the system. Let's invest more. "

Demand, Hey, Minute, Pushed, Waiting

Most people are under exposed to global assets, including foreign stocks, bonds and currencies.

Assets, Currencies, Currency, People, Stocks, Under

Today's reports confirm that, unfortunately, post-crisis America is still not back to its good economic self.

Self, America, Today, Economic, Reports

If you happen to be the only one with negative interest rates, you also weaken your currency, which means you make your exports more competitive.

Currency, Exports, Make, Mean, Negative

Investors should invest on what they know. The biggest mistake is to invest on what they don't know.

Biggest, Investors, Knows, Mistake, Should

It is hard to imagine that, having downgraded the US, S & P will not follow suit on at least one of the other members of the dwindling club of sovereign AAAs. If this were to materialise and involve a country like France, for example, it could complicate the already fragile efforts by Europe to rescue countries in its periphery.

Country, Effort, Europe, Hard, Imagine, Sovereign

America's downgrade may serve as a wakeup call for its policymakers. It is an unambiguous and loud signal of the country's eroding economic strength and global standing. It renders urgent the need to regain the initiative through better economic policymaking and more coherent governance.

America, Coherent, Country, Needs, Serve, Strength

The world is on a bumpy journey to a new destination and the New Normal.

Bumpy, Journey, New Normal, Normal, World

How long can interest rates stay negative? Think about this. Not only are you lending your money to governments, but you're paying them interest for the privilege of doing so.

Government, Lending, Long, Think, Thinking

The one instrument that has relative political autonomy is monetary policy. Central banks do not need to go to Congress to get approval for an interest rate hike.

Approval, Autonomy, Central, Needs, Political, Rate

Investors should be cautiously positioned as the global economy and markets face major uncertainties. The downgrade will be a further headwind to growth and job creation in the U. S.

Cautiously, Economy, Faces, Growth, Jobs

Investors have to ask themselves two questions. How much can we grow our investments? And, can we afford our mistakes?

Ask, Investment, Investors, Mistake, Questions, Two

[When] the market is trying to get to terms with, first, lower global growth, particularly out of emerging markets and China. And, second, the market is worried the central banks have run out of ammunition. So put these two things together, and then investors are repricing the market lower.

Growth, Market, Markets, Running, Things, Two

As a whole, investors should welcome attempts to safeguard the integrity of markets. You need very clear rules applied to markets.

Integrity, Needs, Safeguard, Welcome, Whole

I remember when I was growing up, you would go to a bank to open a deposit, and they'd give you a toaster. A free toaster. These days, if you're a company, and you go to a bank, they could easily turn you away! They don't want your deposits anymore.

Away, Bank, Giving, Growing Up, Toasters, Turn

We normally think if you're going to lend someone money, you should get some reward for doing this. In Europe, it's a tax!

Europe, Lend, Rewards, Think, Thinking

The world changes! So we're in a situation today where the only policymakers that have flexibility are central banks. But they don't have the instruments! So they've had to experiment, and the more you experiment, the more uncertainty and the higher the risk of collateral damage.

Central, Policymakers, Risk, Today, World

The once-unthinkable loss of the AAA rating will constitute a further hit to already fragile business and consumer confidence.

Already, Business, Consumers, Loss, Rating