As previously written, it is not easy being a full time coin dealer; during the nineties the “smart” money was pouring into the stock market. Few had time for the yellow metal, let alone silver or copper coins.
In the “noughties” gold did come into its own, and the smart money left tech stocks for gold and real estate.
Only the far sighted few entered our rarefied world. But everything has its time, and I was reminded of this by one of the words most successful investors.
Bill Gross is CEO of PIMCO, an investment fund that specializes in government and commercial bonds, with around $240 Billion under management.
In an interview with Businessweek, this sentence jumped out:
“There's a cost to that hour and a half, where you sit around the table and acknowledge your competitors are having your lunch. But it's better than getting up too late.”
It is worth reading the entire article, because it shows, how simple it was for Gross to move ahead of the pack and position his $240 Billion for the crisis fallout.
For the record, Gross, based in California, ordered PIMCO to disinvests their entire holding of US Treasury bonds a few months ago.
I am sure he is sleeping easier at night and chuckling over lunch.
