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Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?

To: mishedlo who wrote (12510)	9/29/2004 4:50:31 PM
From: upanddown	Read Replies (1) \| Respond to of 116555

"When Bill Gross speaks, people listen!" Unfortunately true, Mish. in a January Barron's, Gross firmly stated that the 10-year would go to 5.5% by year-end. Well, since this was the "BOND GURU" talking, I sold a bunch of closed-end bond funds. Well, around April, Gross looked like he was going to be quite right. Now it looks like he will be dead wrong. I bought back cheaper so it worked out fine for me, but if a guy as smart and well-connected as Gross can be so wrong, why bother listening to any predictions on interest rates? As Mike Burke used to say, it's a mug's game.