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.

Human nature means that institutions at some point lose their sense of mission. That sense of vulnerability drives Pimco.

Do 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.

Imperceptibly, the developed world's manufacturing base was gradually eroding and being replaced by securitized finance that destroyed itself and nearly its economies in 2008.

Finding the best person or the best organization to invest your money is one of the most important financial decisions you'll ever make.

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.

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