Ivascyn: Junior investors should manually calculate math that computers automate
Dan Ivascyn · Dan Ivascyn – Fixed Income in the Limelight Again (Capital Allocators, EP.298) · Feb 20, 2023 · at 48:45
Dan Ivascyn, Group CIO at PIMCO, gives advice to early-career investors facing complex market conditions after the multi-decade bond bull market.
0:00 / 0:07exact quote · 7.7s
720p mp4 · rendered on demand · StarZero watermark
“Do some of the math that the computers are doing for you. It stinks now. It's going to drive you crazy. It's going to pay dividends, I promise, later on in one's career.”
quote is from the automated transcript, cleaned for reading: filler sounds and stutters are removed, nothing is rephrased. names can be misheard (the analysis reads context, assessments check outside sources). how →
More from Dan Ivascyn
Ivascyn: Green transition and geopolitics will drive structural inflation and desynchronized growth
“In the last few years, we've talked about a world where There's going to be less synchronized growth cycles where inflation is going to be more of a challenge going forward, perhaps structurally because of some of the physical investment necessary, particularl…”
Ivascyn: PIMCO expects US core inflation in high 2% range by year-end
“In the spread sectors, our base case economic view is reasonably constructive. U.S. Inflation heading back down to the high two level on the core side at the end of the year. Based on recent constructive economic data, slow growth, basically a fifty-fifty chan…”
Ivascyn: Public credit offers more immediate value than private credit in 2023
“So when we look at the market environment today, We definitely see more immediate value within the public segment of the opportunity set. A lot of people that may have left that market or are structurally tilted towards private markets really should think abou…”
Ivascyn: Fed rates at 5% will trigger massive loan downgrades
“If we see even moderate declines in EBITDA over the course of the next few quarters with the fed at five percent and gosh, six percent would be a real challenge. We think a massive amount of that opportunity set is going to be open and subject to potential dow…”
Ivascyn: Investors should not expect rapid government bailouts in next crisis
“I think with inflation where it is, with debt levels where they are, with political gridlock where it is currently, It's very dangerous to think that a rescue will come relatively quickly the next time we have a crisis type environment.”