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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.

Bill Gross

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
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
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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Analysis Aspect Judging
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.
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Enough Jobs Myth People
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
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.
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Beer Fun Home
Bonds despite their ridiculous yields will not easily be threatened with a new bear market.
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Bears Ridiculous Yield
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
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
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
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
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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Develop Economy Finance Manufacturing World
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
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
You know those adages about smelling the roses and chasing butterflies? The markets are my butterflies and my roses.
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Butterflies Butterfly Chasing Rose
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

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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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.

Related Topics

Popular Authors

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