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Bill Gross on the Markets and the Economy
Submitted by admin on Sat, 02/02/2008 - 23:30
Bonds don't get much respect, except when the stock market is tanking. That makes this a perfect time to check in with Bill Gross, arguably the nation's most respected bond fund manager.
Gross is chief investment officer of Pimco, a Newport Beach, Cal., firm that specializes in bonds. Under Gross's leadership, Pimco manages fixed-income assets totaling $747 billion.Gross and his team are known for their big-picture calls on the economy and the direction of interest rates. It is the uncanny accuracy of those forecasts that has propelled Pimco Total Return, the firm's flagship, to one of the top records in the fund business.
A recession is probably under way, says the Pimco bond guru, so the best deal today may be in municipal bonds.
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