Investors / stance tracking
What Paul Mcculley is saying
FollowFollowingUnfollowFormer chief economist, PIMCO
Economist
3 dated public stances tracked since 2012-04-07, most recently 2012-04-07. Each line carries the date and the venue it came from; quotation marks mean verbatim. Methodology.
The stances below are c8alpha's editorial distillation of Paul Mcculley's public commentary — television, podcasts, and interviews — compiled by automated transcript analysis and dated to the episode they came from. They may lag the speaker's current view and may contain extraction errors. Text in quotation marks is verbatim from the episode; everything else is our paraphrase. Paul Mcculley is not affiliated with c8alpha and has not endorsed this page. Nothing here is investment advice.
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3
tracked stances
2
themes
0
side flips
2012-04-07
last heard
Most-argued themes
| Theme | Stances | Lean | Mix | Last |
|---|---|---|---|---|
| GLOBAL EQUITIES | 1 | 1 bullish | 2012-04-07 | |
| HOUSING | 1 | 1 bullish | 2012-04-07 |
Tracked stances
bullish / bearish is a view they argued; owns / short is a position they said they hold.
2012-04-07
short USTS / long SPX
pair
Bill Miller · video
Fed pinning short rates near zero makes rolling cash unattractive versus equities, so rotating out of 10-year notes into equities should compress the risk premium and lift PE multiples
“shorting the ten-year note against the S&P 500 as a single trade, I can buy into that one”
Paul McCulley & Bill Miller - Part 1
Property is a deeply hated asset class after five years of losses, creating mean-reversion opportunity — everyone still needs shelter and valuations have reset far below the prior generation's experience
“the property market is so out of favor... there are probably some good opportunities finally”
Paul McCulley & Bill Miller - Part 1
2012-04-07
GLOBAL EQUITIES
bullish
Bill Miller · video
ECB's three-year LTRO effectively ruled out a European Armageddon scenario, removing the dominant tail risk that had been suppressing equity multiples
“I became a table-thumbing bull of equity”
Paul McCulley & Bill Miller - Part 1
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