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Pimco’s Gross Tells Clients 2011 a ‘Stinker’ as Total Return Trails Rivals

InvestorInvestor
edited October 2011 in Fund Discussions
http://www.bloomberg.com/news/2011-10-14/gross-tells-clients-2011-was-a-stinker-as-he-misjudged-economic-slowdown.html

"Bill Gross, manager of the world’s biggest mutual fund, sought to reassure clients that he hasn’t lost his touch after he misjudged the extent of the economic slowdown, causing his Pimco Total Return Fund to trail rivals this year."

Huh? He should have listened to that guy that talked about "The new normal" in the past 2 years.:)

Disclosure: I own PTTRX in a small 401k account.

Comments

  • CathyGCathyG
    edited October 2011
    Thanks, Investor, it's been really hard to watch PTTRX consistently lose more than its peers. M* now shows 12 mo return of -.74%. TGLMX +3.95% and DLTNX +8.93% as other comparisons. I sold much of my PTTRX in February, then all but 5% by early August... bought DLTNX with proceeds, so that was one of my better moves so far.

    How long, if ever, do you think it will take PTTRX to recover enough to compete, i.e., do you think Gross is making the right changes now?
  • hank
    edited October 2011
    All these guys puts their pants on 1 leg at a time. All human and gonna lean right when shoulda leaned left on occasion. Can take a while to right the ship when ya got it wrong and some of the passengers inevitably take to the life rafts in search of better returns. Sounds like you're sufficiently diversified that 1 or 2 errant managers won't hurt ya too much. OTOMH: Think we seen similar or greater mistakes by Heebner, Miller, even Rogers over at T Rowe in the past. Been reading bout hedge fund manager Paulson (sp?) that made fortune for self & investors off housing bubble collapse. Could do no wrong there. Now some of his funds off 35-40% for the year. Lynch may have been smartest one. Got out while at the top. A legend in his own time.
  • [Deleted User][Deleted User]
    Listen to the experts, huh? Be your own expert. I still think Tad Reville is the best.
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