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PIMCO's Neel Kashkari: What Is Worrying Him?
Posted by: Dheeraj Grover (IP Logged)
Date: September 5, 2012 09:25AM
PIMCO's Global Equity Head and ex-Assistant U.S. Treasury Secretary Neel Kashkari was on CNBC to discuss his views on a certain QE3 and how investors should think about positioning themselves ahead of this third round of quantitative easing.
-- Bernanke's speech made it clear that QE3 is coming.
-- He thinks the stock market will rally as something is better than nothing.
-- But QE3 will not make any difference to unemployment or generate sustainable economic growth.
-- There is only so much Bernanke can do.
-- The unemployment rate can only be brought down by intervention of Congress and the executive branch.
-- Markets will remain uncertain and Neel recommends holding high quality names to limit their downside.
-- Factors that will keep markets uncertain - Europe, upcoming fiscal cliff (which he believes will be resolved), and U.S. elections.
Here is the video:
Stocks Discussed: SPY, DJI, QQQ,