Remember the pair of tweets
that one report suggested were in part responsible for last Friday's stock market sell-off?
CEO Todd Harrison used twitter to try to confirm that Pimco has asked its crew to hold off on vacation in case the markets hit a rough patch.
Hearing (not confirmed) @PIMCO asked employees to cancel vacations to have "all hands on deck" for a Lehman-type tail event. Confirm?
At least one follower seconded hearing the rumor.
Well, a Pimco spokesperson reached out to MFWire to clarify the matter.
PIMCO has not asked employees to cancel vacations. However like any other prudent investment manager we have been working over many months to prepare for a number of potential scenarios related to the situation in Europe. This is our responsibility to our clients as stewards of the assets they have entrusted us to manage, and consistent with how we have approached other periods of uncertainty.
That is good to know. And, yes, the DJIA was up yesterday and is rising again today.
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