PIMCO's Bill Gross and the other big bond boys are experiencing some performance issues this year.
By Daryl Jones, Hedgeye
FORTUNE -- For those of you who missed it in high-school history class, Sir Ernest Shackleton is the best-known figure in the "Heroic Age of Antarctic Exploration," which began in 1911 after Roald Amundsen successfully reached the South Pole. Shackleton was a maverick. He wanted to one-up Amundsen. So he set MORENov 26, 2013 10:04 AM ET
Manager of world's largest hedge fund says Fed has made the market a risky place to invest.
FORTUNE -- Investors need to get ready for disappointment.
Ray Dalio, who manages the world's largest hedge fund, believes stocks will only return 4% over the next decade. But that might not be bad compared to other assets. Dalio says bond investors will do worse.
The Bridgewater Associates head made the downbeat investment projections on Tuesday MOREStephen Gandel, senior editor - Nov 12, 2013 11:50 AM ET
The market isn't reacting to certain economic news as we might expect, but that doesn't mean it isn't rational.
By Mohamed A. El-Erian
FORTUNE -- So, good news was interpreted as bad news by the markets on Thursday while, on the very next day, good news was indeed good news? Are markets really that fickle? Are convictions really that shallow?
It is tempting to respond yes based on the view that, over MORENov 11, 2013 9:02 AM ET
Erdoes and other fund managers sound off on how to manage money in the shadow of a debt crisis.
By Anne VanderMey, reporter
FORTUNE -- With a last-minute debt deal winding its way through the legislature, the worst of the uncertainty that has roiled global markets in recent weeks may be past. But the upheaval has already undermined confidence in the U.S., even as the economy shows signs of life. Under MOREOct 16, 2013 2:59 PM ET
What could go wrong on trading desks if the U.S. defaults on its debt? A lot.
FORTUNE -- Government officials used to see it as part of their job to calm the markets. Not anymore. Last week, President Obama and Treasury Secretary Jack Lew both said they thought Wall Street wasn't freaking out enough about the possibility of a debt ceiling default.
Right now, most of Wall Street appears to be betting MOREStephen Gandel, senior editor - Oct 7, 2013 5:00 AM ET
Traders are talking about the prospects of "dirty prices" and other default oddities.
FORTUNE -- On Thursday, the Treasury Department released a report anticipating what would happen if we have a debt ceiling default. One prediction: a financial crisis that could "echo the events of 2008 or even worse."
It's hard to see exactly how that could happen.
If Treasury bonds were to plummet after a debt default, that could cause other bonds MOREStephen Gandel, senior editor - Oct 4, 2013 9:49 AM ET
Even in a default, many investors would see Treasuries as safer than stocks.
FORTUNE -- As Congress seems nowhere closer to resolving the nation's budget problems on day four of the government shutdown, federal officials have raised fresh warnings the U.S. could default on its debt.
Credit markets could freeze, the dollar's value could spiral, and U.S. interest rates could skyrocket, the U.S. Treasury Department warned Thursday. If Congress fails to lift MORENin-Hai Tseng, Writer - Oct 4, 2013 5:00 AM ET
It now costs $46,570 to insure $10 million of U.S. bonds against default for one year, up from just over $8,000 in mid-September. But it's not necessarily a Big Short.
FORTUNE -- A lot of people have noted that at least up until this week, investors have largely shrugged off the possibility of a government shutdown or default.
But that's not entirely true. There is one market where investors seem to be MOREStephen Gandel, senior editor - Sep 30, 2013 9:27 AM ET
Slower rising prices might have given Ben Bernanke an easy taper escape.Stephen Gandel, senior editor - Sep 18, 2013 2:30 PM ET
It's a classic Wall Street game: Build a feeding frenzy to drive up a deal. And like most hype, it'll leave investors little to chew on in the end.
FORTUNE -- When you've gone hungry for a long time, even mediocre takeout dishes can look like something scrumptious from a five-star restaurant. That explains the stampede by buyers to gobble up Verizon's record $49 billion debt offering.
For years investors, especially big MOREAllan Sloan, senior editor-at-large - Sep 18, 2013 5:00 AM ET
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