Top 51 Quotes & Sayings by Bill Gross

Whether a tops-down or bottoms-up investor in bonds, stocks, or private equity, the standard analysis tends to judge an investor or his firm on the basis of how the bullish or bearish aspects of the cycle were managed.

I always thought of myself as being part of a family and sharing and, yes, leading, but not forcing people to do anything.

It's sort of like a teeter-totter; when interest rates go down, prices go up.

Companies typically borrow money at less than their return on equity and therefore compound their return at the expense of lenders.

People have different impressions of themselves, and where reality lies is somewhere in between.

It's going to be difficult to stimulate the real economy in the U.S. at a faster rate than 2 percent and perhaps even less if we have that fiscal cliff in December or January 2013.

Slow growth and inflation have a tendency to accompany large deficits and increasing debt as a percentage of GDP.

Bernanke and company are trying to reflate the economy with almost stated objective of inflation at 2 percent and higher in order to provide some type of safety margin for a future recession. That's where they want to go.

In terms of economic growth, PIMCO originated the famous phrase the 'new normal.'

If financial assets no longer work for you at a rate far and above the rate of true wealth creation, then you must work longer for your money.

My clients don't pay me to feel sorry; they pay me to bring them money. I am tough, but I have a soft side.

When does money run out of time? The countdown begins when investable assets pose too much risk for too little return; when lenders desert credit markets for other alternatives such as cash or real assets.

Favouring employment versus the financial markets is a decent policy; certainly not beneficial for the currency or the gilt market, but beneficial for the people.

Well, I, you know, I think at PIMCO we always try and be open with the press and the public. I mean, isn't that what voters want from their politicians? Mohamed El-Erian, our CEO, writes several op-eds a week.

You know those adages about smelling the roses and chasing butterflies? The markets are my butterflies and my roses.

The real boss in the family is my wife. She didn't want me hanging around the house all day and said, 'You don't want to retire; you'll regret it.' So I listened to her.

Obama/Romney, Romney/Obama - the most important election of our lifetime? Fact is they're all the same - bought and paid for with the same money. Ours is a country of the SuperPAC, by the SuperPAC, and for the SuperPAC.

Whenever I read the newspaper, I say to myself, 'At least my wife loves me.'

Imperceptibly, the developed world's manufacturing base was gradually eroding and being replaced by securitized finance that destroyed itself and nearly its economies in 2008.

In questioning initially whether I am a great investor, I open the door to question whether other similarly esteemed public icons like Bill Miller are as well. It seems, perhaps, that the longer and longer you keep at it in this business the more and more time you have to expose your Achilles heel - wherever and whatever that might be.

What the Obama administration's policies have really been oriented towards have always been towards providing benefits continuing consumption. What this country needs really is a policy which stresses investments.

I am obsessed with delivering value to investors and winning the game from a personal standpoint.

Bonds as an asset class will always be needed, and not just by insurance companies and pension funds but by aging boomers.

Bond investors want growth much like equity investors, and to the extent that too much austerity leads to recession or stagnation then credit spreads widen out - even if a country can print its own currency and write its own cheques.

I would admit I'm an introvert. I don't know why introverts have to apologize.

I am tough but I have a soft side.

The U.K. and almost all of Europe have erred in terms of believing that austerity, fiscal austerity in the short term, is the way to produce real growth. It is not. You've got to spend money.

Accountants, machinists, medical technicians, even software writers that write the software for 'machines' are being displaced without upscaled replacement jobs. Retrain, rehire into higher paying and value-added jobs? That may be the political myth of the modern era. There aren't enough of those jobs.

Both from the standpoint of stocks and bonds, an investor wants to go where the growth is.

Human nature means that institutions at some point lose their sense of mission. That sense of vulnerability drives Pimco.

Ex-Fidelity mutual fund manager Peter Lynch was certainly brilliant in one respect: he knew to get out when the gettin' was good.

Americans now know that housing prices can go down and they can go down by 10, 20, 30, and in some cases, 40 or 50 percent. We know they can go down. But five years ago, we thought they could only go up.

I would admit Im an introvert. I dont know why introverts have to apologize.

Bond investors are the vampires of the investment world. They love decay, recession - anything that leads to low inflation and the protection of the real value of their loans.

Why is it possible to rescue S&L buccaneers in the early '90s and provide guidance to levered Wall Street investment bankers during the 1998 long-term capital management crisis, yet throw 2 million homeowners to the wolves in 2007?

Do you really like a particular stock? Put 10% or so of your portfolio on it. Make the idea count … Good [investment] ideas should not be diversified away into meaningless oblivion.

The market can move for irrational reasons, and you have to be prepared for that, ... you need to make big bets when the odds are in your favor -- not big enough to ruin you, but big enough to make a difference.

If companies don't know that they can run out of money, they won't be thinking of ways not to run out of money.

Finding the best person or the best organization to invest your money is one of the most important financial decisions you'll ever make.

Pay per click was just the beginning. The real evolution is pay per action.

I have a 41-year track record of investing excellence… what do you have?

When the tide goes out, you get to see who's swimming naked. PIMCO has had its bathing suit on for a long time

When you're underperforming the index, you go home at night and cry in your beer. It's not fun, but who said this business should be fun. We're too well paid to hang our heads and say boo hoo.

Accountants, machinists, medical technicians, even software writers that write the software for "machines" are being displaced without upscaled replacement jobs. Retrain, rehire into higher paying and value-added jobs? That may be the political myth of the modern era. There aren't enough of those jobs.

With all this consumer debt, business debt, government debt, smaller movements in interest rates have a magnified effect. a small movement can tip the boat.

We are witnessing the death of abundance and the borning of austerity, for what may be a long, long time.

Ex-Fidelity mutual fund manager Peter Lynch was certainly brilliant in one respect: he knew to get out when the gettin was good.

Damn inflation, full speed ahead,' Greenspan has said in both action and word. I think an investor should believe him and invest accordingly.

Bonds despite their ridiculous yields will not easily be threatened with a new bear market.

Be cautious and content with low positive returns in 2015. The time for risk taking has passed.

Dollar depreciation leads to higher inflation and ultimately forces foreign creditors to question their rationale and indeed their sanity for continuing purchases of U.S. Treasuries.