MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
an InvestmentWires' Publication
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|
MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
|
Thursday, February 3, 2011 Gross Says Financial Services 'is Not God's Work' Fundsters interested in Bill Gross' perspective on society and the markets may want to take a look at his latest "investment outlook" feature. In the February edition, the Pimco [see profile] star broadly attacks the financial services industry as not doing "God's work." "As a profession we have failed miserably at our primary function -- the efficient and productive allocation of capital," Gross writes. "Financiers have lost their high ground and, if truth be told, we began to lose it a long time ago when we figured out that money was more than a medium of exchange or a poor substitute for a store of value." Gross also writes about his worries over core inflation. Reuters covered the piece. Printed from: MFWire.com/story.asp?s=35922 Copyright 2011, InvestmentWires, Inc. All Rights Reserved |