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"Buy low and sell high," or conversely for shorts, is obviously a truism, as is "the trend is your friend." But executing positions is all about timing. Markets are volatile and dynmaic. Getting the timing right is make it or break it. Not to put a clock on it is to say nothing.
I'd say that Gross is talking his book again and covering his ass with a qualification. Will anyone follow him as the last fiasco?
6 comments:
He said "a lifetime". Which pins down the forecast horizon to about 40 years for a 30 year old.
"Buy low and sell high," or conversely for shorts, is obviously a truism, as is "the trend is your friend." But executing positions is all about timing. Markets are volatile and dynmaic. Getting the timing right is make it or break it. Not to put a clock on it is to say nothing.
I'd say that Gross is talking his book again and covering his ass with a qualification. Will anyone follow him as the last fiasco?
Interesting that he's shorting the dollar at the same time. Doesn't make much sense. Wouldn't he want to be short the euro?
Hedging his bet. :)
How do you end up managing $300 billion with that kind of approach? I'll take a billion. I'm not greedy. ;)
Gross is the only person I know who can survive widowmaker trades. Maybe he's immortal.
I don't have the balls to buy bunds at negative yields, but I certainly wouldn't short them.
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