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 GROSSWell, 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.
More Bill Gross Quotes
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People have different impressions of themselves, and where reality lies is somewhere in between.
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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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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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Bonds despite their ridiculous yields will not easily be threatened with a new bear market.
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You know those adages about smelling the roses and chasing butterflies? The markets are my butterflies and my roses.
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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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Even if a country can print its own currency and write its own cheques.
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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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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.
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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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I have a 41-year track record of investing excellence… what do you have?
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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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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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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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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.
BILL GROSS