"This investment ‘could do a lot of damage to your portfolio,’ $9 billion money manager warns" by Lizzy Gurdus, CNBC's Trading Nation.
Beware of long-term bonds.
That’s the case Todd Morgan, chairman and CEO of Bel Air Investment Advisors, made Tuesday on CNBC’s “Trading Nation” as stocks slid on mixed earnings news and another hiccup in the U.K.’s path to Brexit.
Morgan, whose firm manages nearly $9 billion in assets, said that while it’s too early to call an end to the bull run Wall Street has enjoyed over the past decade, it’s “too dangerous” to approach certain areas of the market.
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