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.
Finding the best person or the best organization to invest your money is one of the most important financial decisions you'll ever make.
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.
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.
Ex-Fidelity mutual fund manager Peter Lynch was certainly brilliant in one respect: he knew to get out when the gettin was good.
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.
Both from the standpoint of stocks and bonds, an investor wants to go where the growth is.
Human nature means that institutions at some point lose their sense of mission. That sense of vulnerability drives Pimco.
Bonds despite their ridiculous yields will not easily be threatened with a new bear market,
You know those adages about smelling the roses and chasing butterflies? The markets are my butterflies and my roses.
People have different impressions of themselves, and where reality lies is somewhere in between.
I have a 41-year track record of investing excellence… what do you have?
Companies typically borrow money at less than their return on equity and therefore compound their return at the expense of lenders.
We are witnessing the death of abundance and the borning of austerity, for what may be a long, long time.
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.
Whenever I read the newspaper, I say to myself, 'At least my wife loves me.'
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.
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.
Bond investors want growth much like equity investors, and to the extent that too much austerity leads to recession or stagnation then credit spreads widen out - even if a country can print its own currency and write its own cheques.
When the tide goes out, you get to see who's swimming naked. PIMCO has had its bathing suit on for a long time
Slow growth and inflation have a tendency to accompany large deficits and increasing debt as a percentage of GDP.
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.
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.
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.
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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