We are witnessing the death of abundance and the borning of austerity, for what may be a long, long time.
BILL GROSSIn questioning initially whether I am a great investor, I open the door to question whether other similarly esteemed public icons like Bill Miller are as well.
More Bill Gross Quotes
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Slow growth and inflation have a tendency to accompany large deficits and increasing debt as a percentage of GDP.
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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.
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Accountants, machinists, medical technicians, even software writers that write the software for “machines” are being displaced without upscaled replacement jobs.
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Bond 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.
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People have different impressions of themselves, and where reality lies is somewhere in between.
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With all this consumer debt, business debt, government debt, smaller movements in interest rates have a magnified effect. a small movement can tip the boat.
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Retrain, 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.
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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.
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Damn inflation, full speed ahead,’ Greenspan has said in both action and word. I think an investor should believe him and invest accordingly.
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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.
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Whenever I read the newspaper, I say to myself, ‘At least my wife loves me.’
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Even if a country can print its own currency and write its own cheques.
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Bernanke and company are trying to reflate the economy with almost stated objective of inflation at 2 percent and higher in order to provide some type of safety margin for a future recession. That’s where they want to go.
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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?
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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