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Mohamed El-Erian ‘uncomfortable’ betting on longer rally in stocks

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Mohamed El-Erian, who in early March correctly called a coronavirus-driven bear market, told CNBC on Monday he’s reluctant to buy the latest stock rally.

“For me personally, it’s an uncomfortable bet to continue to bet on a huge recovery,” the chief economic advisor at Allianz said on “Squawk Box.” “I don’t like doing this. But I respect and admire those who can.”

Dow futures were pointing to a rally at Monday’s open, building on Friday’s 3.1% surge. The Nasdaq rose 2%, hitting an all-time intraday high but closing shy of February’s record. From their March 23 lows, the Dow Jones Industrial Average and Nasdaq were each up 48%. However, the Dow was still more than 8% away from its record in…



Source cnbc.com

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