From Fortune Magazine:
"A little Treasury rally doesn't faze the loquacious bond bear Bill Gross.
Gross, the manager of the world's biggest bond fund, increased his bet against U.S. government debt last month while adding to his record cash position – even as bond prices rallied.
Gross' Pimco Total Return fund held 43 cents of cash for every dollar it had in assets, according to data from the end of April..."
Read more at Fortune.com: http://finance.fortune.cnn.com/2011/05/10/gross-boosts-wrong-way-bet-on-a-bond-crash/
--------------------------------
What does this mean? Bill Gross has been the best bond manager in the US for more than 30 years. He runs the biggest mutual fund and PIMCO manages more than $1 Trillion in assets.
When you read Bill Gross, as you can read his commentaries at the PIMCO website every month, you find he is clear about what he does and what he means. Getting money into cash seems reasonable.
Ask yourself this question: Do you want return of your capital more than you want return on your capital?
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.