Dear Bill Gross, Please stop crowdsourcing emotional support and making open-ended calls of doom
Your recent writings and media interviews are still infected by your PIMCO dethroning but find a new outlet for venting about that
Good letter Brooke!
Please don’t tune him down too much. He has made such a great contrarian indicator over the years that I would miss doing the opposite of whatever he says. He was shouting that the fall had far, far to go down before there was any hope of a bottom in the summer of 2002, right at the bottom. He did it again in spring 2009. It is when Bill Gross gets optimistic about the equities markets that we are in for a fall, no matter how good things look. His current spate of gloom and doom is actually very encouraging.
Good thoughts, Brooke. I worked at PIMCO for four years, I wouldn’t personally say anything poor about Bill, we only met a couple of times, but there was always a very pessimistic investment culture there.
Vanguard Group shows up as 'alpha' disciple with two new fixed-income fund launches as it surpasses PIMCO's $2 trillion with ex-Goldman Sachs partner now calling the shots
The $8 trillion Malvern, Pa. manager owns beta investing, but RIAs are demanding higher income -- hence market timing and cherry picking -- from their fixed-income allocation.