Good Morning,
This is April's release of "Investment Outlook" written by the best Fixed Income manager in the world: Bill Gross. I love his intro stories and this time around he includes a portion of a short story by D.H. Lawrence "The Rocking Horse Winner".
Later on he focuses on the new normal and the importance for bond investors to look at specific sovereign and corporate credits or, if the potential risk of country defaults (Greece, Portugal, not US) is not contained, on Treasury bills. I would then add to Bill's report that focusing on Treasury Bill, but proactively avoiding equity investments, would be the safer choice if the country default risk containment fails.
Enjoy!
http://www.pimco.com/LeftNav/Featured+Market+Commentary/IO/2010/Rocking-Horse+Winner+April+2010+IO.htm
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