Thu, 27 Dec 2012
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Morningstar's Eric Jacobson sees PIMCO's appointment of four new deputy CIOs as an effort to reassure investors there is a succession plan in place for Bill Gross after heir-apparent El-Erian's departure.
Recent allegations have turned up the noise around PIMCO, but a bigger concern is whether the fund shop's new deputy CIOs can stand up to Bill Gross when needed, says Morningstar's Eric Jacobson.
Massive purchases of U.S. debt by the Fed and foreign governments has suppressed yields, pushing the risk/reward trade-off out of balance, says PIMCO's Bill Gross .
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