The 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 GrossHuman nature means that institutions at some point lose their sense of mission. That sense of vulnerability drives Pimco.
Bill GrossPeople have different impressions of themselves, and where reality lies is somewhere in between.
Bill Gross