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Started By
Message
Pimco Total Return
Posted on 12/16/11 at 10:59 am
Posted on 12/16/11 at 10:59 am
quote:
(Reuters) - Bill Gross's PIMCO Total Return Fund, the world's largest bond fund, keeps shrinking as investors look to put their money with some of his competitors. In November, the mutual fund led by Gross saw about $500 million in outflows, bringing its cash outflow over the past 12 months to $17 billion, said Morningstar editorial director Kevin McDevitt. By contrast, November was a banner month for most other taxable bond funds, which took in nearly $10.2 billion in money as a group, according to Morningstar. Over a 12-month period, taxable bonds fund accumulated $105.8 billion in new money.
Reuters
3
Posted on 12/16/11 at 11:06 am to Blakely Bimbo
Gross has made some really bad calls over the last year. He shorted treasuries just before they zoomed up in price. Then he got back in just before they fell.
Posted on 12/16/11 at 11:47 am to Blakely Bimbo
They are just taking the absolute change in the TR Fund and saying its been going to competitors, that has not been the case.
Wasn't short Treasuries, just underweight duration and short rates (Pay Fixed Swaps). The other big killer was overweight financials.
quote:
Gross has made some really bad calls over the last year. He shorted treasuries just before they zoomed up in price. Then he got back in just before they fell.
Wasn't short Treasuries, just underweight duration and short rates (Pay Fixed Swaps). The other big killer was overweight financials.
This post was edited on 12/16/11 at 11:49 am
Posted on 12/16/11 at 12:36 pm to BennyAndTheInkJets
The good news is this fund is available in my 401k...the even better news is that there are no index funds available in my 401k.....best news yet is that they just reviewed our 401k options and deemed them very good. 
Posted on 12/16/11 at 1:36 pm to homeskillet
There is no other fund on the planet with the track record of the TR. I wouldn't worry too much about performance going forward, this has been one of its worst years for alpha ever. Hell, it's still returned 3.47% post fees, alot better than equities would have given you.
It's 10% of my 401k too.
It's 10% of my 401k too.
Posted on 12/16/11 at 2:02 pm to BennyAndTheInkJets
Ah yes, Mrs. Bimbo and I had a nice 3 page thread on that particular conversation a few months ago.
Posted on 12/16/11 at 2:13 pm to BennyAndTheInkJets
Posted on 12/16/11 at 2:16 pm to LSURussian
LSURussian not only quotes a blog, but quotes arguably one of the worst blogs out there. Hell has indeed frozen over. 
Posted on 12/16/11 at 2:19 pm to LSURussian
Trust me when I say, I know they didn't short Treasuries.
To short Treasuries, you would have to take the sell side of T-futures contracts. They reported negative duration for Treasuries because of pay-fixed swaps. Not because they sold forward T-futures.
To short Treasuries, you would have to take the sell side of T-futures contracts. They reported negative duration for Treasuries because of pay-fixed swaps. Not because they sold forward T-futures.
This post was edited on 12/16/11 at 2:24 pm
Posted on 12/16/11 at 2:27 pm to BennyAndTheInkJets
quote:
Trust me?.....Wasn't short Treasuries
So I should trust an anonymous message board poster over more than a half dozen news sources who reported PIMCO went short on treasuries?
Okay.....
Posted on 12/16/11 at 2:31 pm to LSURussian
Dude has said before he works for PIMCO, and as I mentioned before, I got into a shouting match with Blakely Bimbo about this same exact thing about people saying they were short treasuries when they were misinterpreting the data. Just sayin'
This post was edited on 12/16/11 at 2:32 pm
Posted on 12/16/11 at 2:37 pm to LSURussian
Yep.
Because of the media's false coverage, PIMCO changed the methodology in which they reported the holdings to include "Swaps and Liquid Rates". That's where you're negative duration comes from.
Because of the media's false coverage, PIMCO changed the methodology in which they reported the holdings to include "Swaps and Liquid Rates". That's where you're negative duration comes from.
Posted on 12/16/11 at 3:21 pm to kfizzle85
Posted on 12/16/11 at 3:28 pm to kfizzle85
Wow, I read ZH almost religiously, but citing it in an arguement is not the best way to establish credibility.
Posted on 12/16/11 at 3:31 pm to BennyAndTheInkJets
I used to read it all the time, but they started posting like 50 posts a day (this is like mid-2009) and I found the majority of it to be crazy skewed; I just got tired of trying to filter through all the bullshite. I removed it from my GReader after about 5 posts by that Reggie Middleton guy. Dude was talking so over his head it wasn't even funny.
Posted on 12/16/11 at 3:36 pm to kfizzle85
I remember Reggie pimping his Euro debt scenario on every medium he could find. The problem was that he was focusing on Latvia, Lithuania, and Estonia.
Then how the New York public library would destroy the E-Book model.
Then how the New York public library would destroy the E-Book model.
Posted on 12/16/11 at 3:59 pm to BennyAndTheInkJets
All I know is he was writing these hugely long writeups about banks and their accounting and completely botching it. I called him out on it in the comments and to his credit he replied, but he also effectively admitted he was reaching and not fully understanding the shite he was writing about.
Posted on 12/16/11 at 9:40 pm to BennyAndTheInkJets
quote:
Wow, I read ZH almost religiously,
I read ZH half as much as TD and that's a lot. I can't stay away from that train wreck. To their credit there are quite a few comical gems over there and they do offer a totally different perspective.
Posted on 12/17/11 at 12:51 am to Blakely Bimbo
this is also an option in my 401K that my company has, I too have some of my 401K going into Pimco TR.
Posted on 12/17/11 at 8:32 am to BennyAndTheInkJets
quote:
They are just taking the absolute change in the TR Fund and saying its been going to competitors, that has not been the case.
You make a good point. I am wondering how much of the withdrawal is people my age cashing out of 401Ks. Since Pimco TR is included in so many 401K's, are people taking out money to live?
I have a friend who turned 59 and 1/2 last year and she cashed out 50 grand to do some work on her house. Know other people who lost their jobs and have gone through their 401K money to live.
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