Mohamed A. El-Erian

We are starting to get some signals of the outcome of Egypt's historic presidential election, the first since the revolution... and many of the millions of Egyptians who bravely took to the streets last year to make it happen may be wondering whether they should be happy or concerned. The...

Behavioral finance specialists will have a field day with the Facebook IPO as it speaks volumes to an issue that differentiates them from those that espouse the efficient market hypothesis -- namely, that investors can be vulnerable to mistakes dictated by unconscious biases.

Or, put another way, the...

Editor's note: The following post is adapted from a document originally sent to clients of PIMCO, an investment firm led by William H. Gross and Mohamed A. El-Erian. It summarizes discussions that took place at the PIMCO 2012 Secular Forum, an annual event that brings together investment professionals...

Sunday's elections in Europe occurred in three countries with diverse economic circumstances (France, Germany, and Greece); and they were for different parts of government (presidential, regional, and parliamentary respectively). Yet the common message from the electorate is undeniable, reminiscent of a famous line in the 1976 movie Network: "I'm as...

Fed up with how all the economic, financial and policy news out of Europe have been contributing to equity market volatility?

Well, not only will this continue but, now, we must also get ready for something new over the next few weeks: the impact of elections. Here is...

Four of last week's five daily trading sessions saw the Dow move by more than a hundred points. The wide fluctuations of the index reminded investors of the unsettling market volatility of last year. In the process, and after a wonderfully strong first quarter, questions multiplied as to whether stocks...

Like millions of Americans, I learnt last week that the famous Augusta National Golf Club does not admit women members. I found the news astonishing, especially for a club that hosts the prestigious Masters Tournament. It was also hard to ignore in the face of questioning by my 8-year-old daughter.

This week's market action serves as a vivid reminder of how dependent valuations are on central bank policies, and especially the aggressive provision of liquidity by the Federal Reserve and the European Central Bank. The question for markets thus boils down to whether central banks will do more; and the...

On Friday in the Rose Garden, President Obama rightly stated, "It is time for a development professional to lead the world's largest development agency." Both the importance and shelf life of this statement go well beyond the immediate expression of public support for Jim Yong Kim, the American nominee for...

This post is drawn from remarks at the launch of USAID's Policy on Gender Equality and Women Empowerment in Washington, DC onMarch 1st, 2012.

I am both honored and thrilled to be here. I would like to thank Raj Shah, USAID's Administrator, and Gayle Smith, Special Assistant...

On Monday morning, Bloomberg News ran two stories on its "TOP" page regarding its new "Global Daily Ranking of Billionaires." By 3 pm (eastern), they were the second and third most read Bloomberg stories over the last 24 hours... and it is not as if it was a...

Count me among the many who were extremely worried upon hearing this weekend that Nelson Mandela, the former president of South Africa, had been taken to the hospital. He may no longer be leading his nation yet, even at 93, he remains an unmatched inspiration for a world going through...

One of the challenges investors face today is how to reconcile seemingly conflicting messages coming from different markets. Is Dow 13,000 consistent with a 10 year U.S. Treasury at 2 percent and gold at almost $1,800? Is $125 Brent oil consistent with cyclically low implied volatility in many market segments,...

Viewed as a standalone, the controversy generated by the Clint Eastwood Superbowl commercial is really silly. Yet it points to something profound that has and, if left unaddressed, will continue to undermine America's ability to regain economic dynamism, create ample jobs, and deal with growing inequalities.

In the...

Have you tried speaking to a group of bright high school students wondering about what the current state of the world means for them and what they should do about it? I am grateful to have done so last week: I ended up gaining insights into how some of tomorrow's...

The health of the global economy, and that of markets, depends on the success of a series of medium-term hand-offs between the public and private sectors -- in growth, balance sheets and credit flows. This week's data highlighted their complexity. Fortunately for investors, the valuation impact is being compensated by...

The chatter on Friday's downgrades of European sovereign ratings debt is all over the place -- from those dismissing it as old news (especially given that S&P warned back on December 5th) to those viewing it as part of a larger and consequential transformation of the...

With the Republican caucus in Iowa and the New Hampshire primary, America has now officially embarked on the road to critical presidential and congressional elections in November. This is a journey that will be heavily influenced by interpretations of what ails the country's economy and what should be done; and...

Lots of things are coming together to give 2012 the feel of a make or break year -- a year that could well determine whether the world transitions to a better and more stable place or, instead, battles an even larger number of economic, political and social fires. The drivers...

As a New York Jets fan, I despair of all the talk about the New England Patriots. Yes they have an amazing combination in Coach Belichick and quarterback Brady; and yes they have incredibly talented tight ends and, in Wes Welker, one of the most dedicated players in football. But...