Tuesday, August 18, 2009

PIMCO's El-Erian: Stocks Have Hit A Wall

(www.businessinsider.com) Mohamed El-Erian has called the recent Wall Street rally a "sugar high." Now, he says U.S. stocks have hit a wall.

The chief executive of bond-king PIMCO said on Reuters TV that U.S. stocks had topped out because valuations have shot up too quickly.

Read the entire story here

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