If you're putting money to work for the long-term, you might want to prepare for a rough ride.Read the rest here.
Rob Arnott, the money manager who runs the $45 billion PIMCO All Asset and All Asset All Authority Funds, tells us a storm is coming – one he calls a financial ‘hurricane.’
“Deficits are higher that most people realize,” he says. “The debt burden is soaring as a consequence of that. And we’re asking our kids to pay it off." He sees these market influences as dark clouds swirling on the horizon and they could hit as early as next year, he says. And probably no later than 2015.