Investors should be buying individual stocks, not indexes because more coronavirus-driven market volatility is coming, economist Mohamed El-Erian said Monday.
El-Erian, chief economic advisor at Allianz said, he felt the time of “selling everything” passed a few weeks ago but the “all clear” moment is not here yet. It is now a moment for being selective both in what investors buy and sell, he said.
“If you feel it’s the all clear, go out and buy the index … I don’t think we’re there yet,” El-Erian said on CNBC’s “Squawk Box.” “We’re not in an all clear.”
El-Erian’s comments came after a strong week for stocks that saw the Dow Jones Industrial Average post its best weekly gain…