Bond 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.

If financial assets no longer work for you at a rate far and above the rate of true wealth creation, then you must work longer for your money.

Accountants, 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.

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

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.

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.

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