Eli Broad Looks East

Eli Broad,the noted businessman and philanthropist,thinks we're closer to bottoming out-or have bottomed out,but we're not going back to 4.5-5% unemployment for several years.It's the wrong time to sell assets:you'll get a big discount,is what you'll get.I think the market's a bit ahead of itself,Mr.Broad said.We have some gold,some China and Asia holdings.We're heavy on credit,buying back loans at nice discounts,but light on U.S. equities.We think the dollar could continue to weaken.We think world events could shake a lot of confidence.China's gonna grow at at least six percent for the foreseeable future,in Mr.Broad's view.
Eli Broad was CEO of SunAmerica until 1999,when it merged with AIG.He had also founded KB Home with Kaufman.He is quite active with The Broad Foundation,a cultural and educational charity.