Whether a tops-down or bottoms-up investor in bonds, stocks, or private equity, the standard analysis tends to judge an investor or his firm on the basis of how the bullish or bearish aspects of the cycle were managed.
BILL GROSSWhether a tops-down or bottoms-up investor in bonds, stocks, or private equity, the standard analysis tends to judge an investor or his firm on the basis of how the bullish or bearish aspects of the cycle were managed.
BILL GROSSIf 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 GROSSWhen 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 GROSSEven if a country can print its own currency and write its own cheques.
BILL GROSSI have a 41-year track record of investing excellence… what do you have?
BILL GROSSDo you really like a particular stock? Put 10% or so of your portfolio on it. Make the idea count … Good [investment] ideas should not be diversified away into meaningless oblivion.
BILL GROSSBond investors are the vampires of the investment world. They love decay, recession – anything that leads to low inflation and the protection of the real value of their loans.
BILL GROSSDamn inflation, full speed ahead,’ Greenspan has said in both action and word. I think an investor should believe him and invest accordingly.
BILL GROSSWith all this consumer debt, business debt, government debt, smaller movements in interest rates have a magnified effect. a small movement can tip the boat.
BILL GROSSPeople have different impressions of themselves, and where reality lies is somewhere in between.
BILL GROSSWhen the tide goes out, you get to see who’s swimming naked. PIMCO has had its bathing suit on for a long time
BILL GROSSRetrain, rehire into higher paying and value-added jobs? That may be the political myth of the modern era. There aren’t enough of those jobs.
BILL GROSSPay per click was just the beginning. The real evolution is pay per action.
BILL GROSSWell, 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 GROSSCompanies typically borrow money at less than their return on equity and therefore compound their return at the expense of lenders.
BILL GROSSWhy 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