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.
Bill GrossBe cautious and content with low positive returns in 2015. The time for risk taking has passed.
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 GrossDo you really like a particular stock? Put 10% or so of your portfolio on it. Make the idea count โฆ Good [investment] ideas should not be diversified away into meaningless oblivion.
Bill Gross