PIMCO

“So Grayscale is the world's largest digital currency asset manager, and so Grayscale is to digital currencies, maybe what PIMCO is to bonds or Vanguard is to indices.”

“We have taken our duration higher. About 18 months or so ago, we were running near the historically lowest level within our duration range, and as markets have become more attractive just from a rates perspective, we've taken that all the way up to neutral dur…”

“There's just a natural tendency for people in our seats to underappreciate the probability of extreme outcomes.”

“If we see even moderate declines in EBITDA over the course of the next few quarters with the fed at five percent and gosh, six percent would be a real challenge. We think a massive amount of that opportunity set is going to be open and subject to potential dow…”

“In the last few years, we've talked about a world where There's going to be less synchronized growth cycles where inflation is going to be more of a challenge going forward, perhaps structurally because of some of the physical investment necessary, particularl…”

“In the spread sectors, our base case economic view is reasonably constructive. U.S. Inflation heading back down to the high two level on the core side at the end of the year. Based on recent constructive economic data, slow growth, basically a fifty-fifty chan…”

“Gates going up on retail products that were perceived to be much more liquid than they were. Explicit strategies that have gates that need to open over a fixed timeframe where they must sell over the course of a short period of time and where they're holding e…”

“The transition in 2014 was challenging on the portfolio management side. I think it was even more challenging on the business side.”

“When I was having a rough time in the mortgage desk, it was really rough to the point where they wanted to kick me off the desk, and they did for a while. They kicked me over into the currency space, which wasn't the most glamorous position at PIMCO at the tim…”

“Do some of the math that the computers are doing for you. It stinks now. It's going to drive you crazy. It's going to pay dividends, I promise, later on in one's career.”

“It's really hard to beat equity indices by picking stocks in a constrained manner. But what PIMCO did, they pair an S and P 500 derivative on top of a bond portfolio. So then they get some alpha, some duration, some credit, and they beat the index that way and…”

“One day in August, he called up and he said, look, we've had an issue with one of the managers and we're going to give PIMCO, I can't remember the amount, but it was in seven figures, billions.”

“A lot of things I see them do are things that the alternative industry is going towards because the alternative industry is scaling quickly. The consolidation of relationships is happening. It's very much following the blueprint of what things were like back i…”

“The conversation to ask ratio is about 15 to one. 15 conversations to one ask.”

“I remember going to a PIMCO bond boot camp for a week. They used to run this amazing boot camp, spent a week out in California. Bill Gross was there, and they had all their senior PMs teaching us everything there was to know about bonds.”