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Bill Gross Compares Pimco to SWFs and Central Banks

by: Mike Steinhardt September 05, 2008

Mike Steinhardt

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“We, as well as our SWF and central bank counterparts, are reluctant to make additional commitments.” - A line from Bill Gross in his monthly Pimco Investment Outlook.

A little over a month ago, I questioned …Is Pimco Too Big? After reading his outlook and watching Gross on television today, the answer appears pretty clear.

He compared Pimco to Sovereign Wealth Funds and Central Banks from around the world. In a way, it seems like he is even speaking for them. It’s almost impressive to see Gross talk someone else’s book for once!

Who is in control of our Treasury?

Bank of America Needs More of Your Tax Dollars Dec 01, 2008
Wells Fargo: Being Bearish Paid Today Dec 01, 2008
Grupo Financiero Shows Many Good Points, Rated a Buy Dec 01, 2008
Assured Guaranty Ltd. F3Q08 (Qtr End 09/30/08) Earnings Call Transcript Dec 01, 2008
Anworth Mortgage Asset Corporation Q3 2008 Earnings Call Transcript Dec 01, 2008

This article has 6 comments:

Sep 05 07:28 AM
If they're not going to buy more bonds...who is? and at what price?
Reply
Sep 05 09:40 AM
Last week, the panhandler who begs outside the studio parking lot changed the text of his cardboard sign.

He scratched out the word "food" and added "cash." His sign now reads "Will work for cash."

Reply
Sep 05 12:02 PM
RNC owns the Treasury, as well as the Fed.

And the PPT works for them all... its doing a great job today keeping a bid under the market... that "free" discount window candy wasn't as cheap as it looked... looks like they have to do some work for it...

but anything to keep the markets up for 2 more months, AT ANY COST.
Reply
Sep 05 12:11 PM
Your panhandler should change his sign to read, "I only need $10 more to get back to Mexico". He would make a fortune.
Reply
Sep 05 02:19 PM
Question for wpdragon (or anybody else who knows more about this stuff than me): if the RNC really are running the show, is it a reasonable corollary that in the event of an Obama victory the rug (i.e., PPT and give-away windows) will be pulled - assuming there is still a rug on the floor to pull by November - or is there too much at stake to let the sour grapes of partisan politics threaten the system?
Reply
Sep 08 07:24 AM
OldLimey: Not quite sure what you mean - The one thing I can be sure of: across the board pardons for all staff for anything and everything to do with Iraq, given Joe Biden's recent comments.
Reply

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Bill Gross Compares Pimco to SWFs and Central Banks

Mike Steinhardt

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Bill Gross Compares Pimco to SWFs and Central Banks

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