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 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.
More Bill Gross Quotes
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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.
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People have different impressions of themselves, and where reality lies is somewhere in between.
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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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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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Even if a country can print its own currency and write its own cheques.
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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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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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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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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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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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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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Pay per click was just the beginning. The real evolution is pay per action.
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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.
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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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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