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.

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.

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.

I would admit Im an introvert. I dont know why introverts have to apologize.

Companies typically borrow money at less than their return on equity and therefore compound their return at the expense of lenders.

I have a 41-year track record of investing excellence… what do you have?

When the tide goes out, you get to see who's swimming naked. PIMCO has had its bathing suit on for a long time