Sep

11

16:03 *PIMCO SAYS EL-ERIAN TO RETURN AS CO-CEO, CIO FROM HARVARD

Perhaps he found that the 20% returns of last five years were in fact the result of pushing into illiquid markets, with an amount of capital that allows one to set prices. I don't know that to be the case, but the opportunity is there, and I wouldn't want to be around when the house of cards collapses.


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