Free Republic 2nd Quarter Fundraising Target: $88,000 Receipts & Pledges to-date: $23,083
26%  
Woo hoo!! And the first 26% is IN!! Thank you all very much!! God bless.

Keyword: pimco

Brevity: Headers | « Text »
  • Boss at $2 trillion investment firm PIMCO says 10-year-old daughter made him quit

    09/29/2014 3:27:23 PM PDT · by Lorianne · 13 replies
    Fox News ^ | 27 September 2014
    The CEO of a $2 trillion investment fund said he made the decision to resign from his post after his young daughter wrote him a note listing 22 milestones he had missed in her life. California-based Mohamed El-Erian left his job as chief executive of PIMCO in mid-March. The 56-year-old El-Erian, who made $100 million in 2011 alone, chose to leave his post after his 10-year-old daughter wrote about all the special moments he was absent for in her life.
  • Billions fly out the door at Pimco (Bill Gross)

    09/29/2014 4:48:27 AM PDT · by MeneMeneTekelUpharsin · 13 replies
    Market Watch ^ | 29 September 2014 | Kirsten Grind, Gregory Zuckerman and Min Zeng
    Pacific Investment Management Co. suffered roughly $10 billion of withdrawals following the Friday departure of co-founder Bill Gross, a person familiar with the matter said, a sign of how quickly Mr. Gross’s surprise move is reshaping the bond-investing landscape. Pimco is bracing for more outflows on the heels of the veteran investor’s departure after months of internal strife over his leadership. At the same time, some managers say they remain committed to the firm. Some within the Newport Beach, Calif., investment firm are projecting it will lose at least $100 billion or more in assets due to withdrawals, the person...
  • Pimco Founder and Bond Guru, Bill Gross Quits Firm for Janus Capital

    09/26/2014 6:13:02 AM PDT · by SeekAndFind · 16 replies
    TIME ^ | 09/26/2014 | Laura Lorenzetti
    Bill Gross, who co-founded Pacific Investment Management, or Pimco, in 1971, will leave his own firm to join competitor Janus Capital. Gross served as the firm’s chief investment officer and managed the Pimco Total Return fund — one of the world’s largest bond funds with more than $1.9 trillion in securities, according to the company’s website. The fund has not done well for years, though, and has been plagued by huge outflows. “I look forward to returning my full focus to the fixed income markets and investing, giving up many of the complexities that go with managing a large, complicated...
  • Did Derivatives Cause Bond Fund Giant, PIMCO's $2 Trillion Divorce?

    02/28/2014 8:11:51 AM PST · by SeekAndFind
    American Thinker ^ | 02/28/2014 | Chriss Street
    The Wall Street Journal on February 25th published a story about December’s messy corporate divorce between Bill Gross and Mohamed El-Erianas, co-Chief Investment Officers at Pacific Investment Management Company (PIMCO), the world’s largest bond fund with almost $2 trillion in assets.  The article focused on the prickly personality of Gross and foul language complaints by El-Erian during a period of stress last summer when the firm was suffering market losses and clients were withdrawing billions.  But despite a carefully crafted image of a traditional conservative bond manager for “serious” money, PIMCO has magnified returns by making trillions of dollars in high-risk...
  • Agency MBS Index Earned -0.55% Over Past Year As Fed Purchases $40 Billion Per Month

    12/13/2013 8:18:40 AM PST · by whitedog57 · 1 replies
    Confounded Interest ^ | 12/13/2013 | Anthony B. Sanders
    The Federal Reserve currently purchases $40 billion per month in an effort to keep mortgage rates low and stimulate the housing market recovery (or bubble?). Over the past year, the RMBS index has earned -0.55% in spite of (or because of) The Fed’s $40 billion per month in agency RMBS purchases. And if we compare the BRMBS index to PIMCO’s vaunted total return fund, you will see similar performance until September 2013 when RMBS rallied in terms of price compared to PIMCO’s Total Return Fund. So, despite The Fed’s $40 billion of agency MBS per month, the Bloomberg MBS index...
  • Eminent Domain For Negative Equity Borrowers: ACLU Versus PIMCO And FHFA (Hockett To 'Em, Baby!)

    11/16/2013 11:15:16 AM PST · by whitedog57 · 4 replies
    Confounded Interest ^ | 11/16/2013 | Anthony B. Sanders
    The eminent domain steamroller is gaining momentum. Irvington NJ now joins Richmond CA in the effort to seize the mortgages of underwater borrowers and reduce their debt. Other cities are moving forward (or backward) in the eminent domain derby. Newark NY, Pomona and Oakland CA are moving forward. Other cities are considering studies to seize mortgages such are two in Pennsylvania and a cities in Minnesota, according to Robert Hockett, a Cornell University law professor and one of the architects of the strategy. He should be nicknamed “Hockett to ‘em”. robert_hockett-inside-small Who is the “‘em” that Hockett want to sock...
  • Wealthy didn't 'build that,' they 'rode it,' says Gross

    11/04/2013 2:06:16 PM PST · by Tailgunner Joe · 20 replies
    cnbc.com ^ | November 04, 2013 | Robert Frank
    In his latest Investment Outlook, titled "Scrooge McDucks," the outspoken Pimco co-founder said that with tax reform back on the radar, the focus should be on taxing the wealthy. Yes, he knows the rich work hard. And yes, he knows they pay an outsized share of the taxes. But Gross said the wealthy really didn't earn all of their wealth. They are lucky beneficiaries of a decades-long credit boom that poured money into the hands of the financially skilled. "You did not, as President Obama averred, 'build that,' you did not create that wave," he wrote. "You rode it. And...
  • IMF Suggests US Regulators Boost Oversight On Large Mortgage REITS (But Not PIMCO)

    10/09/2013 12:52:52 PM PDT · by whitedog57 · 1 replies
    Confounded Interest ^ | 10/09/2013 | Anthony B. Sanders
    Regulators should boost oversight of the largest real-estate investment trusts that use borrowed money to invest in mortgage-backed securities because rising interest rates may push the firms into asset sales that destabilize markets, the International Monetary Fund said. A version of that scenario occurred during the rise in rates that began in May, the IMF said. Repercussions might roil the REITs’ lenders, disrupt the $5.3 trillion market in which they invest and damage the broader U.S. economy, according to its Global Financial Stability Report released today. Here is the report. Mortgage REITs have suffered since the May 1 surge in...
  • Fed: Forward Guidance Or Crony Capitalism? (The Case Of PIMCO)

    09/27/2013 9:26:35 AM PDT · by whitedog57 · 2 replies
    Confounded Interest ^ | 09/27/2013 | Anthony B. Sanders
    Carrick Mollenkamp had an interesting piece today called “Special Report: Pimco shook hands with the Fed – and made a killing.” In short, the fund-management firm, led by co-founder Bill Gross, started buying tens of billions of dollars in mortgage-backed securities guaranteed by federally sponsored agencies like Fannie Mae and Freddie Mac. In the third quarter of 2011 alone, Pimco’s flagship Total Return Fund, the world’s largest mutual fund, doubled its holdings of these securities to $80 billion, according to a Reuters review of trading and other data. While Pimco was building its hoard, the Fed, in a surprise move...
  • Richmond, California, Advances Eminent Domain Plan To Help Homeowners (Who Squandered Cash-outs)

    09/11/2013 2:29:16 PM PDT · by whitedog57 · 9 replies
    Confounded Interest ^ | 09/10/2013 | Anthony B. Sanders
    Richmond California is proceeding with plans that include eminent domains to help homeowners with “troubled loan.” Richmond, California, took a step toward setting up a mortgage principal reduction program to help homeowners with troubled loans, while leaving the door open to using its eminent domain powers to acquire the debt. The City Council refused to shelve a plan to seize mortgages that exceed the value of their properties, which has spurred lawsuits by U.S. banks including Wells Fargo & Co. The council agreed that any effort to acquire loans though eminent domain — the right of governments to take private...
  • New Bank of England chief Carney will devalue sterling, PIMCO warns

    06/01/2013 4:47:53 AM PDT · by Olog-hai · 4 replies
    Daily Telegraph (UK) ^ | 1:18PM BST 29 May 2013 | Philip Aldrick
    Mark Carney will try to devalue the pound by as much as 15 percent after he takes over as Bank of England Governor in July in a last ditch attempt to cement the UK recovery, PIMCO, the world’s largest bond house, has warned. Growth in Britain is going to remain “challenged” for the next three to five years as the Government continues to shrink the public sector and cut the budget deficit. As banks and households also grapple with their excessive debts, “that leaves one policy tool outstanding, which is basically the currency”, PIMCO managing director and sterling bond head...
  • There Will Be Haircuts (Bill Gross)

    05/01/2013 7:23:44 AM PDT · by blam · 17 replies
    Pimco.com ^ | 5-1-2013 | William Gross
    There Will Be Haircuts William H. GrossMay 1, 2013 “Good as Money,” proclaimed the ad for Twenty Grand Cognac. Being a beer drinker, and never having cashed in a Budweiser to pay for a fill-up at the local gas station, I said to myself “Man, that must be really good stuff!” Even in a financial meltdown I thought, you could use it in place of cash, diamonds, gold or Bitcoins! And if the Mongol hordes descend upon us during a future revolution, who wouldn’t prefer a few belts of Twenty Grand on the way out, instead of some shiny rocks...
  • BILL GROSS: Investment Banks Have Morphed Markets With 'Ponzi Finance' — And Time Is Almost Up

    01/31/2013 2:34:03 PM PST · by blam · 3 replies
    TBI ^ | 1-31-2013 | Matthew Boesler
    BILL GROSS: Investment Banks Have Morphed Markets With 'Ponzi Finance' — And Time Is Almost Up Matthew BoeslerJanuary 31, 2013, 9:52 AMBill Gross, the PIMCO fund manager known as the "Bond King," is out with his February investment letter, titled "Credit Supernova!" This month, Gross tackles the relationship between credit expansion and real growth. He channels the late economist Hyman Minsky, saying the economy is now in Minsky's "Ponzi finance" phase, "when additional credit would be required just to cover increasingly burdensome interest payments, with accelerating inflation the end result." Gross writes that new credit is providing diminishing returns: "Each...
  • Obama's Crony Capitalism (PIMCO Management Now in Bed with the White House)

    01/08/2013 7:13:30 AM PST · 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...
  • Stocks dead, bonds deader till 2022: Pimco

    11/28/2012 11:00:14 AM PST · by ExxonPatrolUs · 12 replies
    MarketWatch ^ | Nov 27, 2012 | Paul B. Farrell
    SAN LUIS OBISPO, Calif. (MarketWatch) — Big money managers are warning investors. They’re now citing the Bible: “Seven lean years.” No recovery till 2016. That was Jeremy Grantham back a few years ago. His GMO firm manages $104 billion. Now Bill Gross and Mohamed El-Erian, the co-CEOs at the $2 trillion Pimco money managers, are citing the same biblical warning to jar investors awake and prepare for the coming lean years of slow, low growth and austerity. Except in Pimco’s new warning, the future just got much, much darker for investors — no recovery until 2022. Earlier in the summer...
  • PIMCO: 'THE US WILL GET DOWNGRADED'

    10/18/2012 6:18:05 AM PDT · by blam · 10 replies
    TBI ^ | 10-18-2012 | Rob Wile
    PIMCO: 'THE US WILL GET DOWNGRADED' Rob WileOctober 18, 2012 PIMCO has seen enough of the federal government's "fiscal theatre" and now says the U.S.'s credit rating will inevitably be slashed, Bloomberg's Tracy Withers reports. “The U.S. will get downgraded, it’s a question of when,” Withers quotes Scott Mather, Pimco’s head of global portfolio management, as saying. “It depends on what the end of the year looks like, but it could be fairly soon after that.” If President Obama is reelected, Mather said, it's likely resolution of the country's deficit “doesn’t happen in a nice way, and we have disruption...
  • Bill Gross the “Bond King” says Buy Gold, Not Bonds

    09/11/2012 8:29:15 PM PDT · 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. It could certainly be taken out of the ground in an increasing rate but there’s a limiting amount of...
  • Pimco's Gross Sees US Nearing Recession as BlackRock Sees Fed Step

    07/17/2012 7:31:09 AM PDT · by Qbert · 4 replies
    MoneyNews ^ | 17 Jul 2012 | MoneyNews
    Bill Gross, who runs the world’s largest mutual fund at Pacific Investment Management Co., said the U.S. is approaching a recession as BlackRock Inc. expects the Federal Reserve to take more steps to support growth. Five-year Treasury yields slid to a record 0.577 percent Monday after an unexpected drop in U.S. retail sales rekindled speculation Fed Chairman Ben S. Bernanke will use testimony Tuesday to hint at further monetary easing. That followed data earlier this month showing American employers added fewer-than-estimated workers to payrolls. Goldman Sachs Group Inc. and Deutsche Bank AG cut forecasts for U.S. growth. The U.S. is...
  • El-Erian Explains Why Spain Desperately Needs To Avoid The 'Roach Motel' Of Outside Funding

    06/07/2012 7:26:48 AM PDT · by TigerLikesRooster · 1 replies
    TBI ^ | 06/06/12 | Mamta Badkar
    El-Erian Explains Why Spain Desperately Needs To Avoid The 'Roach Motel' Of Outside Funding After months of resisting external aid, Spanish budget minister Cristobal Montoro said European institutions should help shore up the nation’s lenders. In fact reports suggest that there is a plan in place that would allow Spain to recapitalize its weakest banks with help from European partners. But in a Financial Times editorial, PIMCO's Mohamed El-Erian says there's a reason Spain had long avoided emergency European funding: "So far, emergency European funding has been impossible to exit, like a “roach motel”.
  • PIMCO's Gross warns of economic "breaking point"

    06/01/2012 9:47:21 AM PDT · by SaraJohnson · 7 replies
    Reuters ^ | 5/31/12 | Sam Forgione
    The debt crisis and central bank policy responses have degraded the quality and value of debt markets and signal a "potential breaking point" in the global economy, PIMCO's Bill Gross, manager of the world's largest bond fund, said in his monthly letter to investors. In his June outlook entitled "Wall Street Food Chain," Gross said stimulus policies by the Federal Reserve and the European Central Bank have led to riskier government bonds with lower value and paved the way for higher inflation.