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.
No matter. I respect Gross as an investor; but other than that, I wouldn't trust him as far as I could throw him (and his shareholder letters are juvenile).
I believe PAUDX is a fund-o'-funds only. Otherwise, I completely agree with what Gross is saying, but the way he presents it may not be to everyone's liking. I wouldn't trust him as far as I could throw him either, but Gross is an investor with the mentality of a skilled poker player (which he apparently is) and I feel as if all the double (and triple)-talk is with the intent of trying to protect his shareholders.
Like the article says, Pimco doesn't split out treasuries as a separate category in its monthly allocation reports, so the only place I know where a manager could comment on them (or any sub-category) would be the quarterly strategy report - and those seem to be pretty well choreographed among the funds, since there's a Pimco-wide strategy on practically everything.
Comments
No matter. I respect Gross as an investor; but other than that, I wouldn't trust him as far as I could throw him (and his shareholder letters are juvenile).