Mohamed El-Erian says passive investing doesn't make sense any more now interest rates are climbing

• Mohamed El-Erian says active investment makes more sense than passive in this murky environment.
• The top economist said the economy is getting worse, which means the risks in active and passive strategies even out.
• "Greater selectivity, smart structuring trump more often the lower fees on passive vehicles," he said. 

Mohamed El-Erian says it's time to get back into active investing, because a passive approach doesn't make sense any more in a murky economic climate of high interest rates and low liquidity.