This page has been archived and commenting is disabled.
Bill Gross Announces He Bought $100 Million In BP And APC Debt
From Reuters:
Bill Gross, the co-chief investment officer of PIMCO, said on Wednesday that he recently bought $100 million of short-maturing BP Plc notes and some Anadarko Petroleum paper.
Gross told Reuters via email that he purchased BP paper and "some Anadarko, which is a 20 percent owner." He earlier told CNBC television: "At this point, if you can get 10 percent on one-year paper on BP, we think it's closer to double-A than triple-C. That's a significant (thing). We started to buy some."
And to lemmings who jump in and buy here, Gross, on the other side of the trade, will thank you in advance.
»
- 5166 reads
- Printer-friendly version
- Send to friend
- advertisements -
excellent idea! Let's have Pimco, GSAM and every pension fund in the land buy up BP debt and equity. That way the US taxpayers can pay for the clean up when they all get bailed out. Brilliant!
Bill Gross calls it notes
We call it trash
100 Million?.....................shit, that is chump change.
Bill, can't you do better n' that?.
Notes, trash, One in the same.....................
So, what will still have value in the near future -- a BP note, or a Federal Reserve Note?
The debt is secretly guaranteed. Pimpco owns the fed.
Wandering around ZH today as well as other places on the web,
one might be forgiven for drawing the conclusion
that the Deepwater/Horizon incident has precipitated the end
of life-as-we-know-it on this planet.
In which case, my money is not likely to do me any good anyway.
So, against the slight off-chance that all these doomsayers are wrong,
I might as well put all my money into BP,
because if they are right, I am not going to have much other use for it ....
that's Aaa-okay with me. wonder if he hedged his position with any of them derivitives thingies.
What did our "community organizer" agree to in order to get the $20 Billion?
A beach house in the Falkland Islands for when the shite hits the fan?
To show you how screwed up our priorities are, 20 Billion USD would buy 400 of these, and power about 8 million homes:
http://www.hyperionpowergeneration.com/product-purch.html
That means an investment of $200 Billion, the amount of money the taxpayers gave AIG, would cleanly power 80 million homes. Meanwhile the incompetent eggheads inside the Beltway sit around with their thumbs stuck where the sun don't shine.
Still a couple of years from being deployed but they have over 150 delivery contracts so far. This is a serious piece of the future.
The dude was selling Gold and now this? HAHAHAHAHAHAHAHAHAHAHAHA! He's a fucking sock puppet, he does not exist!!!
they won't even be able to stop the leak in one year, much less decide what their liability might be. Where's Exxon? where's Toyota? Where's Enron? Oops how did that black swan get in here? Where's the whole friggin country of China who poisons us, and keeps poisoning us everyday, because the same guys who said they would clean up the previous mess, didn't do it. (i am pretty sure China made the electronic components which malfunctioned causing those runaway Toyotas to take off - so much for glasnost, on to perestroika, but I know Mikhail Gorbachev, Mr President, and you're not him..)
sigh the only ones getting rich off the oil spill are the bottom feeders
How much would you like to stake on the One Year Over / Under on stopping the leak?
what do you think the over under on the obama administration is?
y the f$$$ would anyone publicly announced they are investing in BP related securities; jump pump and dump
So when is Gross going to change the corporate name to PIMPCO?
Gross and Buffett make good use of CNBC to air their stupid comments and have people buy the crap they are unloading.
One can only hope that every dime of his investment goes to money heaven.
They had some pinko on Jeopardy last night: "Hi Alex, I'm an Environmental Economist. My job is to transfer wealth from developed countries blah blah blah". And Alex goes "Yeah! great stuff!"
Why is this one company gonna bring down every pension in the world?
Has no pension fund manager heard of diversification?
guys in my high school use to spill a little oil now and then.
it's no big deal. cut bp a break.