Prieur’s readings (July 30, 2009)
Prieur du Plessis (July 30th, 2009) Writes:
This post provides links to a number of interesting articles I have read over the past few days that you may also enjoy.
• Bill Gross (Pimco - Investment Outlook): Investment potions, August 2009. A 3% nominal GDP “new normal” means lower profit growth, permanently higher unemployment, capped consumer spending growth rates and an increasing involvement of the government sector, which substantially changes the character of the American capitalistic model. There is no investment potion for this new environment other than steady income-producing bond and equity investments in companies with strong balance sheets and high dividend yields, as well as selectively chosen emerging market commitments where nominal GDP growth prospects are tilted upward as opposed to gravitating to new lower norms.
• Economist.com: After the fall, July 27, 2009. The collapse in world trade has stopped, but there is no sign of a
...America, Anna Jacobson Schwartz, bank rules, Beijing, ben bernanke, bill gross, Chairman, China, China, David Pilling;, Donald Trump, Economist, Erin Davies, Federal Reserve System, Financial Crisis Advisory Group;, Financial Times, Floyd Norris;, Goldman Sachs, HTML, investment postcards, Jeremy Warner, Joe Hagan, large banks;, Market Commentary, obama, Paul Ormerod, president, sports cars, Stephen Roach, the New York Times, Vitaliy Katsenelson (Morningstar), Washington


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