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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

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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Order Safety Trying
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.
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Differences Moving Odds
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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Brilliant Fidelity Fund Mutual
People have different impressions of themselves, and where reality lies is somewhere in between.
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Lying People Reality
Even if a country can print its own currency and write its own cheques.
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Country Currency Even Out Print
We are witnessing the death of abundance and the borning of austerity, for what may be a long, long time.
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Austerity Long Many
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.
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Mean Thinking Writing
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.
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Running Thinking Way
Finding the best person or the best organization to invest your money is one of the most important financial decisions you’ll ever make.
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Decision Important Organization
Companies typically borrow money at less than their return on equity and therefore compound their return at the expense of lenders.
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Equity Expenses Return
Slow growth and inflation have a tendency to accompany large deficits and increasing debt as a percentage of GDP.
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Debt GDP Growth Slow
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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Debt Government Movement
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.
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Ideas Oblivion Portfolios
Bonds despite their ridiculous yields will not easily be threatened with a new bear market.
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Bears Ridiculous Yield
Pay per click was just the beginning. The real evolution is pay per action.
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Action Click Pay Real
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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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?

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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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