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Why is it possible to rescue S&L buccaneers in the early ’90s and provide guidance to levered Wall Street investment bankers during the 1998 long-term capital management crisis, yet throw 2 million homeowners to the wolves in 2007?

Bill Gross

Well, I, you know, I think at PIMCO we always try and be open with the press and the public. I mean, isn’t that what voters want from their politicians? Mohamed El-Erian, our CEO, writes several op-eds a week.
BILL GROSS

Mean Thinking Writing
You know those adages about smelling the roses and chasing butterflies? The markets are my butterflies and my roses.
BILL GROSS

Butterflies Butterfly Chasing Rose
Companies typically borrow money at less than their return on equity and therefore compound their return at the expense of lenders.
BILL GROSS

Equity Expenses Return
Whenever I read the newspaper, I say to myself, ‘At least my wife loves me.’
BILL GROSS

Newspapers Wife Wives Love
Dollar depreciation leads to higher inflation and ultimately forces foreign creditors to question their rationale and indeed their sanity for continuing purchases of U.S. Treasuries.
BILL GROSS

Creditors Dollars Sanity
Pay per click was just the beginning. The real evolution is pay per action.
BILL GROSS

Action Click Pay Real
When the tide goes out, you get to see who’s swimming naked. PIMCO has had its bathing suit on for a long time
BILL GROSS

Long Naked Swimming
If companies don’t know that they can run out of money, they won’t be thinking of ways not to run out of money.
BILL GROSS

Running Thinking Way
We are witnessing the death of abundance and the borning of austerity, for what may be a long, long time.
BILL GROSS

Austerity Long Many
Ex-Fidelity mutual fund manager Peter Lynch was certainly brilliant in one respect: he knew to get out when the gettin was good.
BILL GROSS

Brilliant Fidelity Fund Mutual
Imperceptibly, the developed world’s manufacturing base was gradually eroding and being replaced by securitized finance that destroyed itself and nearly its economies in 2008.
BILL GROSS

Develop Economy Finance Manufacturing World
I have a 41-year track record of investing excellence… what do you have?
BILL GROSS

Excellence Track Years
Damn inflation, full speed ahead,’ Greenspan has said in both action and word. I think an investor should believe him and invest accordingly.
BILL GROSS

Action Believe Inventor Thinking
When you’re underperforming the index, you go home at night and cry in your beer. It’s not fun, but who said this business should be fun. We’re too well paid to hang our heads and say boo hoo.
BILL GROSS

Beer Fun Home
The market can move for irrational reasons, and you have to be prepared for that, … you need to make big bets when the odds are in your favor — not big enough to ruin you, but big enough to make a difference.
BILL GROSS

Differences Moving Odds
Bonds despite their ridiculous yields will not easily be threatened with a new bear market.
BILL GROSS

Bears Ridiculous Yield

Why is it possible to rescue S&L buccaneers in the early ’90s and provide guidance to levered Wall Street investment bankers during the 1998 long-term capital management crisis, yet throw 2 million homeowners to the wolves in 2007?

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Why is it possible to rescue S&L buccaneers in the early ’90s and provide guidance to levered Wall Street investment bankers during the 1998 long-term capital management crisis, yet throw 2 million homeowners to the wolves in 2007?

Related Topics

Popular Authors

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