Trade Notes: Start Trawling for Macquarie Assets Disposals?

Source: Wilkinson Architects

Hard assets that pay reliable income are a pretty good idea at the best of times — especially if you’re not the greedy kind of investor — but right now, they are a bloody good idea.  Gross and El-Erian’s “new normal” predicates the ownership of real assets with stable and secure income.  Factor in the possibility of Renee Haugeruud’s “inverse stagflation” entailing under-performing traditional paper assets — like stocks & bonds — and soaring real asset values and you get the picture.

Background [Felix Salmon]: Should we Listen to El Erian?

I’ve been watching a bit of a backlash against PIMCO, Bill Gross, and El-Erian of late.  It may be partly because their house view of “The New Normal”  so goes against the books of so many other people.  Not to mention the whistling past the graveyard antics of the major developed world policy-makers.  I actually hew more to the Pimco view, even discounting the fact that they (quite obviously) are also talking their own book.