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Pimco's Total Return Fund Loses World's Largest Mutual Fund Title To Vanguard
In what is the biggest black eye for Bill Gross and the largest bond manager in the world, moments ago Bloomberg reported that the title of the world's largest mutual fund has just changed hands:
- PIMCO TOTAL RETURN LOSES LARGEST MUTUAL FUND TITLE TO VANGUARD
- GROSS'S PIMCO TOTAL RETURN BECAME LARGEST MUTUAL FUND IN 2008
- PIMCO TOTAL RETURN HAD $247.9 BILLION IN ASSETS AS OF OCT. 31
This comes on the heels of what Reuters reports is the sixth consecutive month of outflows for the TRF, with $4.4 billion withdrawn in October, while on the other side Vanguard, now at $251 billion, has more than tripled in size since the end of 2008 as the scramble for equities in Bernanke's new normal has become the only game in town.
Which begs the question: a few months ago, the BOE's Andy Haldane stated explicitly that central bankers have "intentionally blown the biggest government bond bubble in history." So with this symbolic shift away from bonds and into stocks, is the bubble now well and truly just an equity phenomenon?
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Just herding sheep for the slaughter in equities.
That's really going to cut into his hair club budget. So now he'll only make $20M a year to lose investor money?
Fortunately Billy boy has a thick skin and a sense of humor. I used to love to read him until he got pouty about a few bad trades.
You know he occasionally reads zero hedge, right? Could he be MDB? I bet he likes to troll. He has a great sense of humor.
I think Paul Krugman is Million Dollar Bonus
With yields falling, QE controlling the world, equities, indeed, are the only game in town. Real estate is for big investors along with REITS for others, income/yield is hard to find but asset inflation will continue because 1) as currencies depreciate 2) QE continues, 3) cost cutting via higher unemployment makes companies more profitable and 4) bank risks decline for corporates as they have more cash and more profits while their dependency on banks reduces. This will hurt the banks as indicated by major US and European banks whose stocks languish at similar levels as in circa 2008 or 2009 but other sectors will keep growing. Many large corporates will not collapse but small ones will find it harder to muddle through. With lower costs, large corporates also will carry on with lower demand.
Maybe he should stop tweeting and start managing
Fuck YOU!
Bill>>>is that you?
That's constructive.
It's like telling Big Tyler to stop tweeting. I need my hash tags, my @whatevers.
You fascists cannot stop the Tweeter IPO with your doublespeak!
Over.
I'd expect something a little more intelligible from retired navy. I guess you're the exception.
vfinx is the fund, I assume, right?
the sp500 tracking fund I assume.
It sucks when you get kicked out of the club doesn't it Bill? Maybe you should spend moar time researching good "investments" instead of tweeting.
u can haz my bondz, yu n me bffs #billgross@pimco
Alpha is a mirage. Some people are just getting smarter and investing index style.
If a thousand fund managers flip coins some will get ten heads in a row, a rare person will get twenty.
We then pay those people to share their wisdom on coin flipping.
Insider trading is the only consistent viable strategy.
Don't let them back in Billy.
The ship of fools is simply heaving.
Billy boy was honest enough to say bond returns going forward are gonna suck azz. Maybe he used different words.
However equity returns may suck azz even hardwr. We will know in five years, wont we?
Just noted, some more people saying that equity market will rise further. http://finance.yahoo.com/blogs/daily-ticker/forget-meltdown-beware-marke...
Dammit, and this the least ugliest horse in the glue factory that is my available 401(k) offering (Ref- PTTAX). Maybe the FED will continue to buy all the available treasuries not sold to other soveriegns (read: China and Japan), and keep the bond-rate suppression going?
How long can this charade continue with real inflation at 8-10% and bond rates at 2.65%? Bill Gross has his work cut out for him.
The bigger question is how did this crap ever get to be so big?
The suckers are going to get hammered all over again; all those .gov workers and people toiling away in Corporate Pleasure Island of Pinnochio are going to have their chips raked off the table by Wall Street all over again.
This looks like a good contrarian indicator to me. The general public can't be trusted to vote let alone invest.
This looks like a good contrarian indicator to me. The general public can't be trusted to vote let alone invest.