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.

You know those adages about smelling the roses and chasing butterflies? The markets are my butterflies and my roses.

Both from the standpoint of stocks and bonds, an investor wants to go where the growth is.

Why is it possible to rescue S&L buccaneers in the early '90s and provide guidance to levered Wall Street investment bankers during the 1998 long-term capital management crisis, yet throw 2 million homeowners to the wolves in 2007?

People have different impressions of themselves, and where reality lies is somewhere in between.

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

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