PIMCO's Paul McCulley appeared on PBS-TV's Consuelo Mack's WealthTrack on March 8, 2008.
McCulley discussed the rise and fall of the property market. According to McCulley, 70 percent of Americans owned homes at the peak of the housing bubble. Today, many of those homeowners are forced to rent again.
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Past performance is no guarantee of future results. This is not an offer or solicitation for the purchase or sale of any financial instrument. It is presented only to provide information on investment strategies and opportunities. The material contains the current opinions of the commentator, which are subject to change without notice.
Statements concerning financial market trends are based on current market conditions, which will fluctuate. References to specific securities and issuers are for illustrative purposes only and are not intended to be, and should not be interpreted as, recommendations to purchase or sell such securities.
Diversification does not assure a profit or protect against loss.
Inflation-indexed bonds issued by the U.S. Government, known as TIPS, are fixed-income securities whose principal value is periodically adjusted according to the rate of inflation, which will affect the interest payable on them. Repayment upon maturity of the adjusted principal value is guaranteed by the U.S. Government. Neither the current market value of inflation-indexed bonds nor the share value of a fund that invests in them is guaranteed, and either or both may fluctuate.
Investing in non-U.S. securities entails additional risks, including political and economic risk and the risk of currency fluctuations; these risks may be enhanced in emerging markets. The value of real estate and portfolios that invest in real estate may fluctuate due to: losses from casualty or condemnation, changes in local and general economic conditions, supply and demand, interest rates, property tax rates, and regulatory limitations on rents, zoning laws, and operating expenses.
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Investment Products: NOT FDIC INSURED | MAY LOSE VALUE | NOT BANK GUARANTEED
