By Jason Voss, CFA
Marc P. Seidner, CFA, the chief investment officer of nontraditional strategies at PIMCO, has a strong track record of making solid fixed-income calls in an uncertain investing environment.
Ahead of the 2013 "taper tantrum," he successfully made a counter-intuitive call that bond yields would fall. In fact, at the CFA Institute 2013 Fixed-Income Management conference, he explained why US Federal Reserve tightening in the near future was unlikely. And when he returned to the stage as the moderator of this year's Fixed-Income Management conference, he shared his perspective on the current state of the economy, which remains fragile.
How can investors cope with the extraordinary, post-Great Recession policies of central banks? Seidner's prescriptions were both direct and logical:
Three Secular Thoughts
- Stay on dry land and preserve capital - that is, target high-quality income-generating assets.
- Bottom-up over beta: Specifically, focus on choosing winners
