The general attitude among many asset managers right now is:
There are opportunities right now, but let's hold off, because there may be more among the future.
Mohammed El-Arian:
The focus on investing now is that you want to focus on the opportunities that have tremendous mean reversion potential, since some asset classes may not mean revert for quite a long time. The system has quite literally broken down. The burden of proof is higher than simply looking at a company's P/E ratio and saying 'this looks low historically, let's buy it.'
He predicts there will be some more institutional failures within the next couple months.
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