Investors Are Drunk on Stability: Paul McCulley of PIMCO
I attended a luncheon recently in La Jolla, CA where Paul McCulley of PIMCO spoke to the idea of a "stable disequilibrium" - a unique concept that helps to explain the volatile uncertainty facing traders across the globe. Paul is a great speaker. He could easily be a history professor specializing in the financial markets. I now understand more about the last 50 years of currency markets than I ever expected to know! He of course trades from a fundamental perspective.
Read Paul's April commentary for greater insight into his "way":
Download the Adobe PDF commentary.
I have always admired those select few that can really "get" the fundamentals and consistently use them to make positive trading decisions. Paul and PIMCO have long made the "right" moves. But after listening to Paul I kept wondering how viable his way was for most traders? Would most traders ever have the ability to absorb all of the daily fundamentals and make the right entry and exit from the market for profit?