Another example of investors heading for the exits at precisely the wrong time. This time it’s the largest bond fund PIMCO Total Return run by Bill Gross. The WSJ points out here.
According to people familiar with the fund, its investors incurred an average loss of 1.4% over this period, nearly double the loss of the fund itself. That is because investors bought high and sold low, locking in the fund’s interim losses and missing its later gains. For the many people who believed they knew just when to buy and sell, that $11 billion is the collective toll of their imperfect self-knowledge
Latest posts by E.J. Smith - Your Survival Guy (see all)
- If You Like Classic/Prog Rock, You’ll Love Greta Van Fleet - November 17, 2017
- What do I think of Bitcoin? Part I - November 15, 2017
- Mad Dogs & Englishmen: Cry Me A River - November 14, 2017