Economics and Philosophy

Mohamed A. El-Erian was born in 1958.

He is one of the co-chief executive officers in PIMCO (Pacific Investment Management Company). It is one of the leading global inverstment management firmsHe joined there in May 1999, after working at Salomon Smith Barney/Citibank in London, where he was a managing director heading the emerging markets economic research team from January 1998. He previously leads up Harvard University’s endowment valued to $30 billion. Also he leads the emerging market portfolio management team. Muhhamed A.El’Erian a son of a diplomat, he got a degree in Cambridge University, and after MBA in Oxford University.

His worldwide famous work “When Markets Collide” was published in May of 2008. And Financial Times just named this book "Business book of the year". Also Financial Times said that it is first time in a four years when book had won the prize.

As I understood the basic theme of the book is that nowadays we are practicing big changes on the structure of global capital market. And he is talking that investors should be aware of these shifts, if there are striving to be successful. He also underlines that these shifts has important policy proposition. For an example he takes the market situation in USA. He thinks’ that now market is not yet under the control because of some reasons. As many other people, Muhhamed thinks that it would be possible to predict the USA crisis. Before USA was witnessed other countries crisis, but this time the crisis has erupted in US. So in common he involves USA market situation as a base of a book. He is evaluating the global crisis. Evaluate diminishing of the US allocations, that emerging market causes increasing internal demand etc. In other words in his book he is describing nowadays economic situation in the world.

Also it explains how a collision between markets of yesterday, taking an example the USA, and maybe what may be emerge tomorrow, maybe some opportunities and risks.

In my opinion it is very useful book, if you want to be known by current economic situation. And also very interesting to know opinion of such a great person like Mohamed a. El-Erian.