“Mohamed El Erian has an estimated net worth of some $2.3 billion. He also served 2 years as president and CEO of Harvard Management Company, the entity that manages Harvard’s endowment and related accounts, leaving at the end of 2007 to return to PIMCO, just before the Harvard endowment suffered massive capital losses in the 2008 bear market. El-Erian seems to have learned something about the importance of protecting savings from the ravages of Fed induced asset bubbles. This week he gave an interview with the Orange County Register explaining, among other things, why he holds most of his personal wealth in cash today–not in stocks and bonds.”
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