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Inflation is not transitory. I said it in 2021. The Fed said otherwise. One of us was right.
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The New Normal means lower growth lower returns and higher uncertainty. Get used to it or get left behind.
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I left PIMCO to spend more time with my daughter. I wrote her a letter about it. That letter went viral. I did not expect that.
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Central banks have lost credibility. When the Fed says something you now have to ask whether they actually believe it.
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Portfolio resilience is more important than portfolio optimization. Prepare for multiple scenarios not just the most likely one.
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I wake up at 4 AM. I write before the markets open. Discipline is the only edge that compounds.