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Pimco Offloads $40 Billion In Treasurys, As Frontrunning Fed Creates Billions Of Profits; Gross Does Not Expect QE 2 On Sept. 21; Pimco's "Fed Frontrunning" Tell Exposed
As we pointed out last month, in June and July Pimco raised its allocation to government bonds to the highest ever, or 63% and 54% of its then-$239.3 billion Total Return Fund. As a reminder this is when the 10 year was well above 3%, and which proceeded to plunge in yield (soar in value) in August, as the sheer panic of QE Lite (and what it means for QE 2) enveloped the market, and when the Hindenburg Omen correctly predicted a 5% drop in stocks beginning in August 12. Stocks have now risen by over 7% in September, which was to be perfectly expected considering the market has seen $10 billion in redemptions (don't ask... bizarro), yet bonds have only gradually sold off, and as rumors of QE persist, the 10 Year continues to be just off its all time tights. This may change now that it has been made clear that Pimco sold over $40 billion in UST bonds in the month of August, just as bonds reached all time highs. Yet to get the sense of urgency behind Gross' earlier actions, consider that the bulk of the purchases were done on margin (pink line in chart below) as the fund borrowed $35 billion in June (and $29 billion June), using all the borrowed cash to fund Treasury purchases. And since the cash repo rate would have effectively wiped out the carry profits on the bonds, it is now blatantly obvious that Gross was very well aware there would be a massive capital appreciation in Treasuries beginning some time in July or August (cough QE Lite cough), and was actively buying all he could on margin in advance of the move. That's right, ladies and gents - we have just discovered Bill Gross' frontrunning "tell" - 1-2 months before every Fed intervention, he loads up the securuity that will benefit the most from any particular round of QE using borrowed cash. As the effective duration of the fund increased substantially in June and July it is obvious that Gross was buying up the long end of the curve, expecting a major flattening of the curve. Which, once QE Lite was announced, is precisely what happened. Incidentally, this purchasing on mega margin was repeated by Gross just once before: when Pimco's holdings of MBS surged from $80 billion to $113 billion in January 2009... just before Ben Bernanke announced QE1. What a series of lucky coincidences!!!
One wonders just how much insight into Ben Bernanke's actions the Newport Beach man had to take such a major gamble on the 30 Year at a time when it was already approaching record lows. Hopefully, one day when someone is combing through the ruins of Fashion Island's world's once largest credit fund and uncovers the phone logs, they will be kind enough to inquire how many calls to and from the Liberty 33 trading desk were made by the man with the 7 Bloomberg monitors.
Anyway, Gross' fund is now back to its boring old self: its TSY exposure is just 36% of total, as MBS has increased to the highest since September 2009, just before QE1 ended.
This time we have decided to frontrun Bill Gross, who is now frontrunning the Fed - Pimco has once again begun loading up on the security class that benefited the most from a "Big Bang" type of QE announcement - MBS. We expect the September announcement to show this class allocation to have grown to at least 25 (and much more if Gross is once again buying on margin).
And the fact that Gross did not use margin cash to bid up MBS means that the Fed will most certainly not announce QE2 next Tuesday. MS was correct in recanting. Whether this will be the case next month, as Gross looks at the November Fed meeting is unclear. If he does though, we will "guess" that his track record of predicting major Fed moves will move to 3 out of 3.
Pimco holdings by product type:
Pimco holdings by maturity and average fund duration:
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The streets in DC use letters? - m'fer's!
They're all a bunch of white collar criminal whores.
Most people make an honest liviing, and the money in their bank didn't arrive from insider knowledge or front-running. But Bill Gross now shows us he's another ponzi whore.
What a loser. Wonder what this sociopath could actually do in the real world if separated from the corrupt Obama team?
I'm simply calling them as they are. Geithner, the little pric, needs a good ass-wuppin'. The constant two-faced lies coming from these psycho freaks "running" our country is truly sickening.
I for one hope the whole fucking thing implodes. I know I can take care of my family no problem. And I look forward to pissing on these jerks as they beg in the streets, MF'ers.
Please aim somewhat higher in the chain of command in order to have any challenge from the game you will be tracking. The exposed fools are puppets to the power and as such have developed zero ability to fight back. They will be thrown as sacrifices at the first need and their backstory as bad actors is being written now.
As if this story would have come to light for any other reason.
You're scary, that's just what I was thinking.
Exactly...
www.vigilantcitizen.com
Front Running? That's fucking outright collusion.
+100 Points. Perp walk starts when?
Perp walks??? ROFL!!!! Never will happen. Greed is not only good, it is fully legalized and NO ONE ever goes to jail. NEVER.
Of course they should be sent to China for 'proper' laws mean they literally get executed. Maybe this is why the USA hates China, as they are no longer buying dollars, instead hoarding/buying gold and banksters get death penalty. Of course th USA can;t allow that in "The Land Of Freedom". More like freeDUMB.
freeDUMB. that is really good.
the last chart is really pretty, chart art. look at it a second time, nice wonderful colors used graphically.
Collusion? Insider trading? That's the whole purpose of the Federal Reserve!
"Psychic" Wild Bill bitchez!
but but but... Bill Gross can't be a crook!
I was wondering what was driving TBT. And now Bill Gates reveals why he is such a fuck'n ahole. http://marklevinshow.com/goout.asp?u=http://www.breitbart.tv/bill-gates-...
Bill Gates is speaking truth. If you can't understand his point of resource allocation then you're one of the masses of asses that can't handle truth.
When someone can pay for a service that service provider merely expands the availability of the service to provide it. It is *predetermined* in this case sited that the elderly somehow have a lesser right to a service they can pay for because they have lesser years left to live. Total horsecrap. What will they deliver to humanity during that time? Miracles! Every person deserves to receive what they can pay for or receive via charity and the goodwill of their progeny and community.
In addition, to create a structure of Administrators that decides for *wards of the State* that they can be summarily cut off from service *even when service is available as charity* is a sick testimony to our fascination with the bottom line. Charity is available from every single physician that walks the Earth. They are required to work a certain number of hours in that capacity.
They are walking you to Soylent Green acceptance.
Mr. Gates is one of the movers and shakers behind GAVI the world wide vaccination organization. (1) Vaccines do not function as advertised, it is a smokescreen hoax. (2) What they do function as is as euthanizers of the world's population. Everything from thimerasol to recent GM sterilizers are in those happy little injectible slow death vials.
Mr. Gates does have a valid point of view. From his perspective and the perspective of his masters (yes, he is a made man and probably a clueless puppet as well) NSSM 200 is what they are marching toward realizing. That would be the eradication of the vast majority of the useless (in their eyes) eaters on this planet.
Mr. Gates is certainly speaking his truth. *His,* and maybe yours.
Not mine.
"From his perspective and the perspective of his master"
Satan
+ 1 trillion
This is a kind of false dichotomy. We don't have to get so dramatic. Yet.
Why don't we start by cutting the useless insuraunce companies out of their turn at the trough?
Isn't that a lot easier? But off topic?
========================
I'm really enjoying the topic. Is this what you call the smoking gun?
Gates is a scumbag and yes, they are carrying out ethnic cleansing and genocide; him , CFR, Rockefeller, the usual suspects.
LeB-as a young lad, I got scared of the Malthus argument; read his book, read Erlich, read a bunch more. Learned to do experiments. Read Popper. Saw that the "population collapse" thesis was continually invalidated. Then Clancy did a great book (at so many levels) e.g.
http://www.allreaders.com/topics/info_764.asp and
http://www.abebooks.com/servlet/SearchResults?an=tom+clancy&sts=t&tn=exe...
somewhere in there, saw Chrichton's statements.
I was in a meeting with a number of Canadians today, talking about a mutual friend who had a heart attack. "He had to leave the meeting last week to see the Cardiologist." and the answer was "He has enough tax-delivery left in his working life to pay for the visit."
You, SIR, are spot-on.
- Ned
Sorry what exactly are you saying? Sounds like BS to me.
I have experienced both U.S. HMO and PPOs and Canadian health care and I will take Canadian health care over both. Not really sure what you are getting at ....
Well said. I don't trust anything Bill Gates sez anymore. Can't stand the man. He has a multi-billion dollar corporation, with lots of computer genius's, and they can't put out a decent product that works like it is supposed to. I am sick & tired of security breaches and the dozens of "patches" to fix said breaches in their programs. WTF?
use a live cd whenever possible.
http://voices.washingtonpost.com/securityfix/2009/10/avoid_windows_malwa...
Well done LeBalance.
No, I'm sure he could find other ways to cut cost ...
Its like when a township builds everything under the fucking sun, parks, new firehouse, police station, everyone gang raping the city on the back of the credit monster.
Now that the township is broke, it tries to pass tax hikes (in the name of save the teachers jobs), but only 20% of that tax hike will go toward teachers(if passed) but the other 80% is going to plug other holes so they can save their fucking jobs after 10 years of mismanagement ...
With the waste that goes on in the heath care industry and he tries to correlate between a person on his/her death bed and teachers?
Wow, what a total tool corporatist fuck.
He's just simply willing to talk about why doctors will continually day after day, month after month, year after year, decade after decade continue to employ strategies and tactics that have 0 percent efficacy, or continue to employ tactics that have 3 percent efficacy and have no fucking clue why it works in the 3 percent.
These are not real choices or real resources. It's a mind game. You don't have to lay off teachers and firefighters to give a million dollars to 10 doctors who fuck around for 3 months as they are independant creative spirits which have nothing to do with each other. Besides the fact they are shoved into the same economic system and given an artificial connection and boundry. The doctor assholes are just going to divert the money from the teachers and educators to yacht builders and dudes who call them up on the phone and ask them to invest 100k in something stupid which they ask 2 questions about and then write a check. And yes Dr. Brister sat me down once and pulled 2 tiny tiny pieces of rust out of my eye and it took 10 minutes and used about 5k worth of equipment. Then proceeded to charge me $250 bucks and then said god bless me. And if he ever needs me for anything in any lifetime. I'm going to drill his asshole like gay convict.
dr wu will see you now, he's pretty entertaining even when
he goes off topic, which is often.
"The major causes of disease in the West are Jews and Jewish physicians."
-- Dr. Wu Tao-Wei
http://www.bamboo-delight.com/Anti-Jew%20Medicine.htm
Don't need to time the market, just need to time the Fed.
(or be on Deep Shah's speed dial)
Bill Gross. Blankfein. Paulson. The list goes on.
These guys make the Russian oligarchs look like rank amateurs.
Gives new meaning to "trickle down effect."
LOL!! Great comment.
QE2 is real.
So is the Easter Benny.
Bingo!
[Except the caveat regarding the observervation and the outcome acording to Heisenberg.]
no shame, no conscience. nice work if you can get it.
My question of the day for Ben:
if Goldman Sachs has been identified as big-time negligent in their dealings with customers (see recent SEC settlement for background), why do you continue to use them as a supplier?
or to put it another way - what is the fucking fantasy world you live in?
Oh, but Goldman is experienced and has all the machinery in place to perform the theft -- I mean sales expertise -- to get the job done. Thieves run with thieves. The honor among thieves is not reserved for the lower classes.
I'd like to see if bill gross shows up on cnbc for the next fed announcement.
Hubris will take him down. I've seen him be a bit smug about some of the business done by him and his associates. He will not be able to resist showing his inside knowledge at some time and that will be used against him when the gallows is warmed up.
from a females perspective. you all, are talking about warren buffett, bill gross, bill gates and i will throw in john chambers. these men seem so effeminate to me. plus they talk with a high pitch unmanly voice. not that it matters, just notice these things about men.
the fix is in....the treasures go to the insiders as usual
on another note, I would definitely check out the documentary "Hacking Democracy" - same theme, different players
Elizabeth Warren to lead Consumer Financial Protection Bureau, unofficially
9/15/2010 09:22:00 PM – CalculatedRisk
From the NY Times: Warren to Unofficially Lead Consumer Agency
“Elizabeth Warren, who conceived of the Consumer Financial Protection Bureau, will oversee its establishment as an assistant to President Obama, an official briefed on the decision said Wednesday evening.
The decision, which Mr. Obama is to announce this week, would allow Ms. Warren, a Harvard law professor, to effectively run the new agency without having to go through a potentially contentious confirmation battle in the Senate.”
“I think Ms. Warren is an excellent choice.”
http://www.calculatedriskblog.com/
"Time to stand up for what you believe in.”
Tyler Durden
She's got a job until 11/06/2012 (or whenever the Mayan calendar ends?).
December 21st, 2012 or 23rd (Some people claim)
a glutinous and Gross Buffet.
There all using there status to self deal...
"There all using there status to self deal..."
Crooked dealers get shot--in the movies anyway.
There, there.
64bln, ha. The sickness of it, the sickness.
Hey Tyler- good article. I wanted to take a moment to say THANK YOU cause i can tell by your posts that you are relentless in keeping them coming for us to read! I know this is no easy task and you must work 25/7 to get them to us. THANKS DUDE!
Good stuff, Tyler. How does this crew throw a party when the time is right?
+++++
We all have a lot of fun in this site but, at the end of the day, we're here because the news and analysis that TD provides are the best available.
"Top notch, top notch"!!
http://www.youtube.com/watch?v=VGpQej3o9eo
i was saying this exact same thing to myself, last night. how do you do all this? relentless pursuit of informing, us, uninformed. the commenters posts of high quality enrichment of the truth, as well. i am speechless this morning, except to say WOW. i just keep getting my eyes/mind opened bigger and wider. right now i can't hardly resolve this whole picture that has been painted by ZH and it's contributors. still really confused about that, but clear with what a farce being an american is. ok with myself, but sure as hell not ok with being an american. want can one do?
So the next time this occurs we can make the same sure bet?
Life on "the inside" is very different to life on the outside! Much more profitable, to say the least!
Sure is. They literally make the market. Obviously the Sherman Anti-Trust act was voided with the repeal of Glass-Steagall.
Bill Gross can have all the money in the world, but it won't buy him a man's voice. Money isn't everything, and soon, it may be nothing.
+1 (Good to see you out tonight Cursive)
Welcome back, Cursive. Business concluded?
U.S. Home Prices Face 3-Year Drop as Inventory Surge Looms
Sep 15, 2010 12:14 PM ET
“The slide in U.S. home prices may have another three years to go as sellers add as many as 12 million more properties to the market.
Shadow inventory -- the supply of homes in default or foreclosure that may be offered for sale -- is preventing prices from bottoming after a 28 percent plunge from 2006, according to analysts from Moody’s Analytics Inc., Fannie Mae, Morgan Stanley and Barclays Plc. Those properties are in addition to houses that are vacant or that may soon be put on the the market by owners."
http://tinyurl.com/2djlqhs
"Warren would report directly to the president and the Treasury Secretary, a senior administration official and a Democratic official told CNN."
Bill Gross was my hero - Captain Honesty. Buffet was a hero too.
"Capitalism attacks and destroys all the finer sentiments of the human heart; it ruthlessly sweeps away old traditions and ideas opposed to its progress, and it exploits and corrupts those things once held sacred."
Daniel De Leon
“Think in this way of all this fleeting world: As a star at dawn, a bubble in a stream; a drop of dew, a flash of lightning in a summer cloud, a flickering lamp, a phantom, and a dream.”
-Diamond Sutra
http://media.photobucket.com/image/namaste/magica8/Ikone%20My%20Space/na...
that top foto remind you of anyone?
http://upload.wikimedia.org/wikipedia/commons/d/dd/Lon_chaney_sr.JPG
he buys a mansion to tear down and build a bigger one. bought in the name "Monte Carlo Trust". ...that will be $300 billion, all-in ! (don't worry ben got his back)
http://www.youtube.com/watch?v=BF43RVaQD7o
Lets go shit in his pools
ew he has a look like he is anticipating BB's tea bag
For some reason the first photo reminded me of witchiepoo:
http://www.youtube.com/watch?v=obxfuFrUTzg
This time we have decided to frontrun Bill Gross, who is now frontrunning the Fed ...
At this point I had to stop reading and say Great, great stuff TD!!!
Back to reading ...
You do great work Tyler, no one can deny that.
But I think "front-running" is being too kind. This is more likely collusion.
I know this is a half-baked theory, but....
Pimco leverages up to buy Treasuries and right when they dump them, the biggest arms deal in history is announced with Saudi Arabia.
Which begs the question, "Who might have bought those Treasuries?"
One of the reasons I think it's so important to know who exactly is buying Treasuries is because of the potential for shady deals with "customers" who want something more than a 3% return (like Apache helicopters & F-15's).
You can't trust junkies, and debt junkies are the worst kind. I can't believe I'm saying this, but I hope front-running the Fed is all that's going on here.
Great observation, kinda like "shootin yourself in the foot" "to much rope you hang your self". Seems like we are selling out to any MF'er who will buy...
I always liked how we sold the F-14s to the Iranians in the late '70's. The Shah had to have the best, and we were willing to sell them the best (at, I'd bet, the best prices on a loaded factory). Come the late 1990's, well, spares are a bitch and the up-time/mission reliability was ... er ... iffy.
Helicopters == 10,000 parts flying in loose formation, each one made by the lowest bidder (Translational Lift: 5 of my 50 mates at the exclusive boys school in VA are no longer due to those infernal machines).
So, sell them the gear, without the support systems, well, can we all sing "hangar queen"?
now, shall we consider a nuclear power reactor?
- Ned
Who's buying? Peru, Japan, SNB, Columbia and soon each and every other country in the race to zero
I'll grant you, this does look a little suspicious. But it might simply be a coincidence that Mr. Gross accurately timed multiple leveraged trades in and out of these securities. Plus, it would be illegal to trade based on non-public information - not to mention a violation of the most basic principles of fairness and transparency that underpin our market's integrity. It would be the kind of thing that - if it were true - might erode the public's trust in our system.
The more likely explanation for this incredibly prescient trading, in my opinion, is that Mr. Gross has access to a wormhole (designed by extra-terrestrials working secretly at PIMCO's New Mexico office) through which he travels forward in time, thus giving him giving him a "leg up" on less sophisticated traders. But this is only speculation....
23 million? makes sense - the guy doesn't want to stand out in a sleepy little fishing town like Newport.
Anybody hear El-Erian on Bloomberg radio this morning? He actually had the nerve to say "PIMCO doesn't play interventions."
yep, and the podcast is floating around. Pay for the "service" (and I do) and you get the whole archive. Mo was on twice this week (so far).
Talking the book? Yep. But Levitt is much, much worse.
- Ned
When you control $1 Trillion in bonds people listen, including the federal reserve.
Are the $Dollars the BOJ is buying being recycled back into Treasuries?
In other words are the Japanese buying Obama a QE2?
If they are not buying our tresuries, ...they are taking on our debt because China is buying the Yen.
Bennie B. gives all the rich guyz BJs.
I don't often make sensible comments on here... but I'll try to this time.
About 10 years ago, I was working at a publicly traded company, which I left, and which subsequently went bankrupt (not due to me leaving). I saw the writing on the wall and knew we only had months left.
I remember the President/CEO at the time... a high flyer in the press, a real wizard of thought. When the company went belly up and people lost their investments, this guy needed body guards 24/7... people were even sending him pictures of his kids walking into their school yard. It was #uckin scary to be him.
I am saying this because if this #uckin thing blows up... we are going to see massive social unrest. There is not #uckin way something like this can blow up and there not be consequences... think food prices, pensions, health, safety and security issues. Once the middle class realizes that these things are gone or severely diminished, watch out.
It is important to realize that what has made America great has been its people believing in the mythology that any one can land on its shore... and can make it. Well, with what it appears Gross and his ilk have done is completely undermined what the everyday person thinks of business and government... and when you get the average person on the street losing faith in their government and the system at large, the very beliefs they have held dear... watch out.. France in the 1780s went through this. They fixed their sun king and all of his rays of light.
If you think I'm an extremist, remember that the right to bear arms, militias and the "fear" of government comes out of a revolutionary mindset on which the US was built... a mindset which still permeates today.
This is not going to end well.
I prefer you as an idiot.
Me 2 azzhole.
Au contraire, I find him exceptionally articulate for a sock monkey.
light entertainment, fuck sake!
OT, wb: clif did an interesting interview recently in case you haven't caught it yet --
http://www.youtube.com/watch?v=EWwmMfbEXd8&NR=1&feature=fvwp
Thanks Tippy.
bot-
ya
You blame Gross? ?? ??? (dang, hog, stop that, almost like K A T H Y). Part of the myth is that ANYONE can become president. Got an X on that one.
You have outlined one of the Mad Max outcomes. Depends on food supply, water, micro-organization, city, current weather, tactical situation, MOOSEMUS, etc. Gotta add luck.
- Ned
OT, we need to accumulate the WWII acronyms that describe this situation: FUBAR, SNAFU, ... there are a ton more. Gotta catalog them, then we all write them down along with "can kraut".
(dang, hog, stop that, almost like K A T H Y).
what do i have to do with all this? nothing, your making me more depressed.
"This is not going to end well." Actually this is going to END well...it'll just be a bumpy road--til the Bad Guys are removed....is Billy Boy a Bad Guy?
stupid question perhaps: but who is PIMpCO borrowing the money from? and more importantly, what form of money are they borrowing?
The Fed will oblige you for all that you could want. $40b is chump change in this casino. A 40b repo happens every few seconds.
Important information here. Pimco is just a hedge fund. They buy and sell bonds on spec. They use 99% leverage for this. In this case they flipped $40b in bonds and made some very nice coin.
Speculators have always been perceived as necessary evils as they bear the risk and reward of manging liquidity. They help facilitate the capital markets.
But these are very big numbers to be sloshing back and forth in the time frame of a few months. This time there was no apparent consequence. Next time or the time after that it will not be the case. When too many of these monster specs get lined up the wrong way and something unexpected happens there will be a blow up. These are the things that will bring us a failed auction one day.
In this case the speculator takes on a different role. A provider of instability rather than stability.
I congratulate Gross. He made a bundle, again. He has a book that makes him the price maker. He is wired to the Fed and Treasury. He knows what supply and demand is. The PDs slaver for his business and report to PIMCO what the rest of the street is doing to curry favor and trades.He does not guess what happens next. He knows. Not a very level playing field. What else is new?
Nice piece TD.
thanks for the answer above bruce
I have learned a ton from you Bruce.., thanks again.
I disagree. I think it's outrageous.
He has a book that makes him the price maker. He is wired to the Fed and Treasury.
Great point. And being the globalist elites that he and El-Erian are, you will see them play their part to shape the world as they want... developing nations rising up against developed nations, one world currency. I know it's conspiracy theorist stuff, but if you read what they put out on a regular basis you begin to get frightened. (anyone read When Markets Collide?...I know, it's old news but still. LOL) I keep hoping that like everyone else who has played a winning hand for too long and been correct, (think LTCM), they will overplay and get killed. F, who knows, perhaps one day the death of Pimco will finally start the long, long bond bear off on the right foot.
"When too many of these monster specs get lined up the wrong way and something unexpected happens there will be a blow up."
Bruce, I think this is like professional wrestling. There are no "unexpected" results. Pimco knows the winner in advance. It's their pound of flesh from the Fed (and taxpayers) to prevent Gross from holding a tantrum. He's simply got too much leverage and must be appeased.
Who's the lucky gambler that gets to be the next Lehman? Guesses?
Professional wrestling.
Good stuff Bruce, Pimco controls the market, they dump a bunch of t's and it moves the market. Pimco needs to be broken up even worse than the banks.
I DON'T congratulate Gross. He hired the man who hired Ben. Ben tells Pimco's hire, Sir Alan, what's happening before it actually happens; or Sir Alan tells Ben what should be happening; or something or other like that goes on and thus Bill Gross knows before anyone else what's going to happen.
I don't believe that he simply legally has better information than everyone else because the PD's love his business. I believe it's Bubbles Greenspan who's the conduit.
wow...he sold MBS hard into QE and then sold USTs hard into the QE lite. Not seeing any huge accumulation now; would like to know what this clown is going into. If QE2 comes, obviously, MBS will be the place to be again.
Who is wagging who?
Question for the astute readers of ZH:
The statement for today's POMO shows purchases as being bought at par. Which par do they use for that valuation (1) current market price or (2) final value of the bond?
The reason that I am asking is that I can't figure out why a POMO would have a 4.3x bid to cover. What would give the banks a large enough incentive to crawl over each other to sell these bonds? The only thing that I can think of is making 10 years worth of interest in 1 month. Basically the buy treasuries program becomes nothing more than a free money program that is being made in weekly installments. This would also explain the sudden increase in funds flowing to the markets.
Unfortunately I am not very knowlegeable about the places to look up this information to answer my own question.
Easter Benny....nice
Gross is a believer of government bailout. In fact he publically advocated a strategy "kiss the hand", or should we say "kiss the ass" when he plunged into MBS. It is a bet that the government would save the market when everyone was depserate and loath of government intervention.
He won big. Now it is simply the same trick. Remember he publically advocated the nationalization of the mortgage market a month ago? He is smart but can't be trusted.
Won big? No, I don't think so. No one bets that big unless they already know or create the exact outcome they seek, especially Soros, Pimp, Buffet, Blankfein, Fuld and the other so-called "winners".
How he gets to know ahead of time is what really needs to be investigated and prosecuted.
+10
Are the money flows trackable or traceable?
Thank you, Tyler. Great job! and you know what else- all along, I suspected it was really spelled- Pimpco- and I was right!!
So Bill offloads 40 billion huh? I would like to unload 40 bullets... Fuckin cocksuckers!
Duke isnt ivy league Pussy, all the money in world and he still cant beat Wake Forest
It bothers me that the regular economy can't get credit, but these guys get margin to buy assets. But honestly I don't understand he is playing the game well, and I bout treasuries as well figured with the curve at all time steep it had to decrease and short term wasn't going up very far as they had already done so well.
so why are people upset
Nice, I'm looking forward to this now.
Nice, I'm looking forward to this now.
Pimco is an arm of the Fed, at least a tentacle. The problem for the markets are these interventions, it creates distortions noone can invest or trade with except the insiders like Grose.
Not going to end well. Another 10 Bil just left the stock market.
Continue to play your games Mr Grose and gain ZH writing admiration but investors are voting with their feet.
He saw QE coming (didn't you?) and was in a position to lever up.
So many bitter people; drop the sour grapes just because Bill's got balls bigger than your heads.
I found lots of interesting information here. I love zerohedge.
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