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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

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
Even if a country can print its own currency and write its own cheques.
BILL GROSS

Country Currency Even Out Print
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.
BILL GROSS

Decay Real Vampire
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

Bankers Capital Long Management Wall
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
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.
BILL GROSS

Order Safety Trying
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
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
Accountants, machinists, medical technicians, even software writers that write the software for “machines” are being displaced without upscaled replacement jobs.
BILL GROSS

Jobs Political Writing
Do 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 GROSS

Ideas Oblivion Portfolios
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 GROSS

Analysis Aspect Judging
Slow growth and inflation have a tendency to accompany large deficits and increasing debt as a percentage of GDP.
BILL GROSS

Debt GDP Growth Slow
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
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.
BILL GROSS

Debt Government Movement
In 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.
BILL GROSS

Doors Icons might Question
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.

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

Related Topics

Popular Authors

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