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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.

Bill Gross

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

Lying People Reality
Slow growth and inflation have a tendency to accompany large deficits and increasing debt as a percentage of GDP.
BILL GROSS

Debt GDP Growth Slow
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
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
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

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

Excellence Track Years
Finding the best person or the best organization to invest your money is one of the most important financial decisions you’ll ever make.
BILL GROSS

Decision Important Organization
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.
BILL GROSS

Debt Government Movement
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
Whenever I read the newspaper, I say to myself, ‘At least my wife loves me.’
BILL GROSS

Newspapers Wife Wives Love
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
Bonds despite their ridiculous yields will not easily be threatened with a new bear market.
BILL GROSS

Bears Ridiculous Yield
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
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

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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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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Popular Authors

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