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Bill Gross's Investment Outlook For December: 'On The Wings Of A Eagle"
Signs of Synchronized Global Expansion Scot Minard /Guggenheim (Bullish )
The latest readings of global Purchasing Manager Indices (PMIs) reflect a convergence in manufacturing activities across different regions. Major advanced economies, including the United States, United Kingdom, Japan, and the euro zone, have seen expanding manufacturing activities for five consecutive months through November. Benefiting from the recovery in external demand from advanced economies, manufacturing activity in most emerging countries such as China, India, South Africa, and Turkey has also returned to expansion after a slump over the summer http://guggenheimpartners.com/perspectives/macroview/a-synchronous-expansion
Seems a no brainer that PTTRX is going to have a tough time realizing the same returns going forward that is has in the last 10 years, no matter how much hocus-pocus they do with their derivatives. I think this is their way of admitting this. When I compare Gross' fund with more flexible offerings like OSTIX, GSZIX, LSBDX, TSIIX, and even BSIIX the writing on the wall looks pretty bold to me. When you are as enormous as PTTRX, it's darned hard to have much flexibility.
Comments
The latest readings of global Purchasing Manager Indices (PMIs) reflect a convergence in manufacturing activities across different regions. Major advanced economies, including the United States, United Kingdom, Japan, and the euro zone, have seen expanding manufacturing activities for five consecutive months through November. Benefiting from the recovery in external demand from advanced economies, manufacturing activity in most emerging countries such as China, India, South Africa, and Turkey has also returned to expansion after a slump over the summer
http://guggenheimpartners.com/perspectives/macroview/a-synchronous-expansion