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Weidner: Don't read too much into Pimco saga

  • "When times get tough, on Wall Street or in Newport Beach, Calif., the tough turn on each other," writes David Weidner, not seeing anything too unusual in the Pimco saga. These sorts of ugly partings happen all the time amid the massive egos on Wall Street. Consider Citigroup with Sandy Weil and Jamie Dimon, Morgan Stanley with Phil Purcell and John Mack, and Bear Stearns with Jimmy Cayne and Warren Spector.
  • "In every case, the splits occurred under tremendous pressure. Much like a marriage headed for divorce, long simmering incompatibilities, jealousies and flaws rose to the surface ... When push comes to shove,  it is always better to be king. No. 2’s instinctively need to watch their backs. You want normal? That is normal."
  • Allianz (AZSEY)
  • Pimco CEFs: PTY, PDI, PMF, PGP, PKO, PFL, PFN, PCN, PCM, PHK, RCS, PMF, PML
  • Previous: Gross becoming "increasingly illogical and irrational."
Comments (2)
  • U Mass baseball
    , contributor
    Comments (25) | Send Message
     
    Your article confirms what I've suspected since the El Arian debacle. Much ado about nothing. Bill Gross has been extremely competent for a very long time. I own PHK, which has paid the same extremely high .121875 per month dividend since its inception over ten years ago. It doesn't get much more reassuring than that.
    21 Mar, 04:36 PM Reply Like
  • John.Ferrara
    , contributor
    Comments (22) | Send Message
     
    "fuhgeddaboudit"

     

    (PKO - long)
    21 Mar, 08:10 PM Reply Like
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