When credit is priced such that carry is no longer as profitable at a customary amount of leverage/risk, then the system will stall, list, or perhaps even tip over, says Pimco's Gross.
Pimco chief discusses how successful investing in a deleveraging, low interest rate environment will require defensive in addition to offensive skills.
How many ways can you say “it's different this time?”
A 12-year-old coffee mug has a permanent place on the right corner of my office desk. Given to me by an Allianz executive to commemorate PIMCO's marriage in 1999, it reads: “You can always tell a German but you can't tell him much.”
In many ways the global economic crisis is like a marriage gone bad.
​A mind is a precious thing to waste, so why are millions of America's students wasting theirs by going to college?
I'm going to one-up Mark Twain in the quantity department and spin two yarns about jumping frogs, one which has been frequently told, the other not so much.
