Posted on 11/16/2016 1:06:27 PM PST by Ernest_at_the_Beach
The angry voters who helped catapult President-elect Donald Trump to victory in last week’s presidential election will bear the brunt of the economic fallout from his policies, says legendary bond investor Bill Gross.
Gross said he voted for neither Trump nor his vanquished Democratic rival, Hillary Clinton. In his latest missive to investors, published Wednesday, Gross said the electorate effectively put the fox in charge of the henhouse.
(Excerpt) Read more at marketwatch.com ...
One thing occurred to me the other day that struck me as kinda funny. All these “smart guys” who snigger in their sleeves about Reagan and “trickle down” seem to be pretty quiet on how the Fed has been juicing the economy. Notice when the Fed said the economy needed stimulation they didn’t just dump billions of dollars in homeless shelters or jackpot winnings for welfare queens. Funny, huh?
Oh noes.....the concern trolls are concerned
I've been thinking along similar lines. Those with their hands on the levers of financial power will make us pay for thwarting their pet monster.
Actually, the BOND owners like Gross are the ones being hurt by Trump’s election, not the little guys. Bonds prices tend to fall when the stock market prices rise.
I bet Gross went excessively long on bonds, thinking Hillary was going to win, thereby giving the stock market no reason to rise.
Same reason other countries wanted to punish the Brits by not making unilateral deals with them just to spite them for Brexit.
Well, there goes the possibility of Gross becoming Treasury Secretary....
I don’t think the slump will last long. I think that with the expectation of a Trump economy many will see it as a buying opportunity and the trend will reverse pretty quickly.
I read Gross’s actual letter and he did pretty much say that. He says lowering corporate taxes won’t help main street because they will just keep the money as profit. Combine lower taxes and increased spending on defense and infrastructure he says will just increase debt, not growth.
I’m just summarizing a little of his opinion, not stating mine.
I believe the stock market bubble will burst, too. Many will blame Trump but I won’t, as it has been heading in that direction for awhile with the easy money.
Not really Gross was way past his best use by date when he was fired by Pimco.
PIMCO: We had ‘good cause’ to get rid of Gross PIMCO: We had ‘good cause’ to get rid of Gross
Tuesday, 5 Apr 2016 | 1:33 AM ET | 02:32
Pimco has stepped up a legal war of words with its former chief investment officer Bill Gross, saying he could have been fired for abusing his colleagues in the months leading up to his abrupt resignation in 2014.
The fixed income asset management company on Monday filed its response to Mr Gross’s claim that he is owed at least $200m in lost bonuses and compensation.
Pimco failed last month in an attempt to have the lawsuit thrown out, opening up the prospect of a long and potentially embarrassing series of hearings and disclosures about its culture and remuneration.
The company has been working to stem customer outflows since Mr Gross shocked the asset management industry by walking out in September 2014. Mr Gross, meanwhile, has been working to re-establish his reputation as the “bond king” at Janus Capital, a smaller firm.
Gross on profits and pandas Gross on profits and pandas
Wednesday, 30 Mar 2016 | 2:00 PM ET | 04:10
Pimco’s formal response to Mr Gross’s complaint puts him on notice that it plans to expose embarrassing details about what it calls his “self-destructive” final months at the company he helped build over 37 years.
Following the resignation of Pimco’s chief executive, Mohamed El-Erian, in January 2014, and newspaper reports about conflict between the two men, “Mr Gross became consumed . . . with protecting his own public image above all else”, Pimco says in its filing.
“In single-minded pursuit of that objective, he undertook a disruptive and unacceptable course of conduct that included breaking commitments to abide by management decisions, trying to sabotage the careers of the former CEO and others he suspected of disloyalty, and treating his colleagues abusively.”
http://www.cnbc.com/2016/04/04/pimco-raises-the-heat-in-battle-with-bill-gross.html
Bill Gross’ Janus bond fund suffers highest monthly outflow in November
12/8/2015, 3:24:44 PM · by sparklite2 · 11 replies
One America News Network ^ | December 8, 2015 | Jennifer Ablan
In November, Soros Fund Management LLC, which billionaire investor George Soros chairs, pulled its roughly $500 million from an account run by Gross at Denver-based Janus Capital Group Inc .
The cash withdrawals are particularly significant for Gross as his Janus Global Unconstrained Bond Fund, which Gross began managing in October 2014, holds more than $700 million of Gross’ personal money. So far this year, the Janus Global Unconstrained Bond Fund is posting negative returns of 2.01 percent and lagging 72 percent of its peer category, according to Morningstar.
We Are All Going To Die From Inflation Says Bill Gross
2/4/2013, 3:56:29 PM · by lbryce · 16 replies
Points and Figures ^ | February 3, 2013 | Jeff Carter
They say that time is money. What they don’t say is that money may be running out of time. There may be a natural evolution to our fractionally reserved credit system that characterizes modern global finance. Much like the universe, which began with a big bang nearly 14 billion years ago, but is expanding so rapidly that scientists predict it will all end in a “big freeze” trillions of years from now, our current monetary system seems to require perpetual expansion to maintain its existence. And too, the advancing entropy in the physical universe may in fact portend a simila
Obama’s Crony Capitalism (PIMCO Management Now in Bed with the White House)
1/8/2013, 7:13:30 AM · by SeekAndFind · 7 replies
Reason ^ | 01/08/2013 | Ira Stoll
On the Friday before Christmas, President Obama announced that he was appointing Mohamed A. El-Erian, the CEO of Pacific Investment Management Company, as the chairman of his Global Development Council. The announcement didn’t get much attention, but it should. It exemplifies what’s wrong with Obama’s approach to economic policy, which amounts to: insult rich people as “fat cats,” raise their taxes, and then choose a favored few of them for special access. If you’re not familiar with El-Erian, you must not be watching CNBC or attending the World Economic Forum at Davos. The son of an Egyptian ambassador to France...
The firm that Gross founded, ousted him.
PIMCO’s Bill Gross: Still Early/Wrong, And Now Even Earlier/Wronger. Bond Yields are Down.
5/27/2011, 6:32:39 AM · by SeekAndFind
Wall Street Journal ^ | 05/26/2011 | Mark Gongloff
The yield on the 10-year Treasury note is now at 3.06%, its lowest of the year, well below its 200-day moving average and starting to worry the psychologically important 3% level, which it hasn’t broken since last December. It will not break that level any time soon, however, Pimco chieftain Bill Gross declared to Bloomberg TV today. He once again stood by his call that bond yields will rise once the Fed stops buying bonds under its QE2 program in June, a call he has been making since early March, while watching bond yields march steadily lower.
I know for certain Hillary would have caused a serious financial hit on my family.
Bill Gross the “Bond King” says Buy Gold, Not Bonds
9/11/2012, 8:29:15 PM · by dennisw · 20 replies
washingtons ^ | September 10, 2012 | Washingtons
Bill Gross Says that Gold Holds Its Value, While – In an Era of Central Bank Money Printing- Paper Money Doesn’t Bill Gross – the world’s pre-eminent bond fund manager, nicknamed the “Bond King” – is the boss at Pimco, the world’s largest bond fund, with $1.8 trillion dollars under management. Gross told Bloomberg: [There’s] a diminished or dying cult of both bonds and stocks from the standpoint of a belief that they can return 10% …. Gold can’t be reproduced.
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Bullshit as usual.
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Bill Gross: We’re Witnessing the Death of Equities
8/1/2012, 4:34:00 PM · by TigerLikesRooster · 26 replies
WSJ ^ | 07/31/12 | Steven Russolillo
July 31, 2012, 3:03 PM Bill Gross: We’re Witnessing the Death of Equities By Steven Russolillo The bond king says stocks are dead. Bill Gross, Pimco’s co-founder and co-chief investment officer, says stock investors should think again about the age-old “buy-and-hold” investing mantra. He says consistent, annual returns are a thing of the past. “The cult of equity is dying,” Bill Gross wrote in his August Investment Outlook. “Like a once bright green aspen turning to subtle shades of yellow then red in the Colorado fall, investors’ impressions of ‘stocks for the long run’ or any run have mellowed as.
What are they gonna do?
Make us watch Timothy Dalton movies?
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