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.
Bill GrossBond 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.
Bill GrossFinding the best person or the best organization to invest your money is one of the most important financial decisions you'll ever make.
Bill GrossWhy 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?
Bill GrossAccountants, machinists, medical technicians, even software writers that write the software for "machines" are being displaced without upscaled replacement jobs. Retrain, rehire into higher paying and value-added jobs? That may be the political myth of the modern era. There aren't enough of those jobs.
Bill GrossThe 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 GrossPeople have different impressions of themselves, and where reality lies is somewhere in between.
Bill GrossSlow growth and inflation have a tendency to accompany large deficits and increasing debt as a percentage of GDP.
Bill GrossYou know those adages about smelling the roses and chasing butterflies? The markets are my butterflies and my roses.
Bill GrossIn 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. It seems, perhaps, that the longer and longer you keep at it in this business the more and more time you have to expose your Achilles heel - wherever and whatever that might be.
Bill GrossHuman nature means that institutions at some point lose their sense of mission. That sense of vulnerability drives Pimco.
Bill GrossDollar 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 GrossBoth from the standpoint of stocks and bonds, an investor wants to go where the growth is.
Bill GrossCompanies typically borrow money at less than their return on equity and therefore compound their return at the expense of lenders.
Bill GrossWhen the tide goes out, you get to see who's swimming naked. PIMCO has had its bathing suit on for a long time
Bill GrossWhen does money run out of time? The countdown begins when investable assets pose too much risk for too little return; when lenders desert credit markets for other alternatives such as cash or real assets.
Bill GrossWell, 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.
Bill GrossBond 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 GrossWhen 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 GrossWe are witnessing the death of abundance and the borning of austerity, for what may be a long, long time.
Bill GrossEx-Fidelity mutual fund manager Peter Lynch was certainly brilliant in one respect: he knew to get out when the gettin was good.
Bill GrossWhether 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 GrossBe cautious and content with low positive returns in 2015. The time for risk taking has passed.
Bill GrossBernanke 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.
Bill GrossBonds despite their ridiculous yields will not easily be threatened with a new bear market.
Bill GrossDo 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.
Bill Gross