NEW YORK (Jennifer Ablan) – Bill Gross, manager of the world’s largest bond fund, apologized to his investors late Friday for his poor performance, saying “I’m just having a bad year.” In a Special Edition letter posted on PIMCO’s website, Gross, who runs the $242 billion PIMCO Total Return portfolio, wrote that he underestimated the [...]
(Mike Dolan) – You know it’s grim when the prevailing debate among economists and historians is whether the world economy faces the “Great” depression of the 1930s or the “Long” depression of the 1870s. Listening to commentary surrounding the seemingly intractable sovereign debt and banking crisis in Europe, the stimulus/austerity battle in the United States [...]
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