Loki,Gross is notorious about "talking up his book", just as Jeff Vinick was (who got bounced as Magellan's fund manager).For those who haven't heard the term before, "talking up your book" means, praising what you own (and what you'd like to sell), because you think it's going down. You talk it up at the front door, all the while blowing it out the back door to the suckers listening to you. Gross is called "The Bond King", and his eponymously-named biography is an interesting read. He comes to bond investing from playing Black Jack. Apparently, he was good enough to make a living at it. But I think his partner, McCully, offers more useful opinions on present-day markets. Is now a good time to buy anything? Who knows? Will the future be a better time, or worse? Who knows? "Bond King" or not, he doesn't either. He's guessing and trying to move markets in his favor as he had done repeatedly in the past. (IMHO, 'natch)
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