Investment Outlook
Bill Gross | November 2009

Midnight Candles


"What has happened is that our “paper asset” economy has driven not only stock prices, but all asset prices higher than the economic growth required to justify them."

"The Fed will likely require 12–18 months of 4%+ nominal growth before abandoning the 0% benchmark."

http://www.pimco.com/LeftNav/Featured+Market+Commentary/IO/2009/Midnight+Candles+Gross+November.htm

na zaciatok trochu uvah, potom nazory o nadhodnotenych cenach a predikcia dokedy bude FED drzat sucastnu politiku nizkych urokov

work hard, drink hard, work hard