Thought this might be pertinent given the participation level in the Junk thread going on right now. Interesting article this AM out from the WSJ.http://finance.yahoo.com/banking-budgeting/article/112873/Pi...
So let me get this straight, Mr. Gross was suppose to know a decade prior that Lehman was going to crater? Because the article reaches all the way back to senior secured notes purchased in '99 '00 and includes the near decade of purchases that followed. The article also alludes that Mr. Gross should have known several months prior that Lehman was going to crater when public records show that Lehman was struggling but still internally convinced they could/would survive. Lehman did not give up the ghost until the very bitter end and had some expectation of govt assistance until that was firmly removed as an option.Within the report we show no hesitancy on PIMCO's part to right down the debt which is a substantial departure from many in various finance industries. I don't see any where a significant fault on PIMCO's part. Sometimes investments go bad and PIMCO recognized that it occurred to them adjusted their books and moved forward. I don't get this type of reporting. jack
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