We are witnessing the death of abundance and the borning of austerity, for what may be a long, long time.
BILL GROSSCompanies typically borrow money at less than their return on equity and therefore compound their return at the expense of lenders.
More Bill Gross Quotes
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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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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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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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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.
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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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I have a 41-year track record of investing excellence… what do you have?
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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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I would admit Im an introvert. I dont know why introverts have to apologize.
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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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Accountants, machinists, medical technicians, even software writers that write the software for “machines” are being displaced without upscaled replacement jobs.
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Bonds despite their ridiculous yields will not easily be threatened with a new bear market.
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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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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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Pay per click was just the beginning. The real evolution is pay per action.
BILL GROSS