Bill Gross is one of the most influential money managers in the world. He is founder and co-chief investment officer of Pacific Investment Management Company (PIMCO). Each month, Bill writes his Investment Outlook, giving his take on the most important issues facing the global economy. It’s on my monthly must-read list. In this month’s letter, Allentown, he explains what’s really going on with the global economy and why it won’t be fixed by trying to artificially stimulate consumption.
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Over the years, many people have asked me for investment advice. This section is my answer to the question, “Chip, what are you doing with your portfolio?” It details the portfolio I use to implement my investment strategy— the Plumb Performance Portfolio© |
Further details and return history about the Plumb Performance Portfolio. |
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“...an investor who proposes to ignore near-term market fluctuations needs great resources for safety and must not operate on so large a scale, if at all, with borrowed money. Finally, it is the long-term investor, he who promotes the public interest, who will in practice come in for the most criticism, wherever investment funds are managed by committee or boards or banks. For it is the essence of his behavior that he should be eccentric, unconventional and rash in the eyes of average opinion. If he is successful, that will only confirm the general belief in his rashness, and if in the short run he is unsuccessful, which is very likely, he will not receive much mercy. Worldly wisdom teaches that it is better for reputation to fail conventionally than to succeed unconventionally.”
– Lord John Maynard Keynes