Why a top quant wants to be wrong about markets

Former Pimco quant Rebonato sees weak returns, inflation and sovereign debt troubles ahead

Riccardo Rebonato
Riccardo Rebonato

Riccardo Rebonato has spent a career trying to make sense of markets. Today, he’s finding they make little sense at all.

“It completely baffles me how we can have equity prices that are similar to the prices in December, when the word Covid was unknown,” says Rebonato, a finance professor at Edhec and former chief quant at Pimco.

“Everything points to massively lower prices,” he says.

Current stock market valuations fly in the face of asset-pricing theory, in which Rebonato is a leading

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact [email protected] or view our subscription options here: http://subscriptions.risk.net/subscribe

You are currently unable to copy this content. Please contact [email protected] to find out more.

To continue reading...

You need to sign in to use this feature. If you don’t have a Risk.net account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here: