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Here's a statement of the obvious: The opinions expressed here are those of the participants, not those of the Mutual Fund Observer. We cannot vouch for the accuracy or appropriateness of any of it, though we do encourage civility and good humor.

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PIMCO Total Return MFO Commentary

Vile
in Fund Discussions
I disagree with the MFO commentary on Oct. 1st regarding Bill Gross's Departure. What bothered me was the comments telling readers to fire adviser's, endowment consultants, and cancel subscriptions of anyone recommending the sale of the fund.

I ask anyone, why would you stay? There is no simple understanding of what is in that behemoth of a portfolio. No representative or conference call has ever been able to explain what they do coherently. The derivative positions in the fund are unlike anything ever seen. Liquidity concerns are unknown to the public, but PIMCO reassures us their aren't any (Heard this before.hm,hm,) Two major changes in management over the past year. And the fund grew at the expense of shareholders (in my opinion).

I don't think PIMCO's boat is going to sink, but it's the Mobro 4000. There are too many options out there, why sail with this pile of garbage.

I guess I'm baffled because this fund does not even meet the Sniff test of MFO based on what I've read on this website as far back as fundalarm.

I love the MFO, Just curious on others opinion.

Comments

  • JohnChisum
    If I had money in Pimco's Total Bond, I would not move it to another firm but I would transfer it to other funds in the company. I don't have any funds with Pimco for whatever that is worth. I think the new management deserves a chance.

    The commentary was talking about Pimco in general and was not specific to Total Bond.
  • VintageFreakVintageFreak
    The reason I cannot find fault with MFO commentary on PTTRX was because to me, it was simply telling all of us to fire the finonsencial asswisers, and think for ourselves.

    Buy the manager, not the fund. If you believe that, you should leave PTTRX. You should however not leave PIMCO if you have another fund you bought for different manager.

    I sold PTTRX 401k. I continue to use PAUDX managed by Arnott in IRA.
  • Vile
    edited October 2014
    I went back and reread the commentary. I was not looking at PIMCO as a whole. I would never be an advocate to leave PIMCO just because of the loss of Bill Gross. Only the funds he specifically managed. They have plenty of other great funds. Sorry for the confusion. Thanks for correcting me.

  • rjb112
    On another note, David's commentary on PIMCO was incredibly funny. Especially how he presented the fact that they made a big announcement about the fund Bill Gross was taking over.......and that fund did not exist! Also the photo of Gross......the Kardashians photo, etc etc. Well done.
  • JohnChisum
    @Vile, Looks like you are new here. Welcome to the forum and check back often.
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