El-Erian: Stocks and Bonds Are in for a ‘Painful’ Ride and Cash and Cash-like Assets Is Safer

Economist Mohamed El-Erian strongly advises turning to cash and cash-like assets as a shield against increasing market volatility. With stocks and bonds facing turbulence, El-Erian has significantly bolstered his holdings in cash and similar assets. Concurrently, he warns of a potential economic downturn, suggesting heightened caution in other investment avenues.