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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.

Bill Gross

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
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
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
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
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
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
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
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
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
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
I have a 41-year track record of investing excellence… what do you have?
BILL GROSS

Excellence Track Years
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
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
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
People have different impressions of themselves, and where reality lies is somewhere in between.
BILL GROSS

Lying People Reality

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.

Related Topics

Popular Authors

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.

Related Topics

Popular Authors

More Bill Gross Quotes