PIMCO (the Pacific Investment Management Company) was founded in 1971; it now has over a trillion dollars in investments. “PIMPCO” is an obvious nickname, used by those who believe that PIMCO has prostituted itself to the government and the Federal Reserve.
The nickname “PIMPCO” has been cited in print since at least 2005.
Pacific Investment Management Company, LLC (commonly called PIMCO), is a global investment management and solutions firm headquartered in Newport Beach, California. PIMCO is led by co-founder William H. Gross, who serves as Co-Chief Investment Officer, and Mohamed A. El-Erian, the other Co-CIO as well as the firm’s CEO.
Gross manages the Total Return Fund, the world’s largest mutual fund with assets of $240.7 billion as of December 31, 2010. He co-founded the firm in 1971, launching with $12 million of assets. Previously, PIMCO had functioned as a unit of Pacific Life Insurance Co., managing separate accounts for that insurer’s clients. In 2000, PIMCO was acquired by Allianz SE, a large global financial services company based in Germany, but the firm continues to operate as an autonomous subsidiary of Allianz.
PIMCO describes its mission as “managing risk and delivering returns for our clients.” It now oversees investments totaling more than $1 trillion on behalf of a wide range of clients, including millions of retirement savers, public and private pension plans, educational institutions, central banks, foundations and endowments, among others.
Aug 24, 2005 5:11pm
pimco talking up position
pimpco has been getting a lot of airtime lately, talking up their long position and saying the fed risks putting the economy in a recession. I think they are looking for liquidity to get out of their huge long position. pimco is big, but they cant beat the fed.
I like PIMCO. I like Bill
by aadpepsi on 4/18/07 at 8:41pm
I like PIMCO. I like Bill Gross. A lot of cache on a resume to have PIMPCO on it.
Wednesday, June 27, 2007
Pimco Sounds a bit like Pimpco
Bill Gross is the bond guru in charge of the biggest bond funds in the business. He has a really funny looking mustache that has an early ‘80s look to it. His mustache looks like the mustache on that dorky looking guy from Evening Shade.
Geithner’s Gift To Pimco
By: Mike Shedlock | Thu, Apr 2, 2009
Pimco Needs A New Name
‘We intend to participate and do our part to serve clients as well as promote economic recovery,’ Pimco’s Gross said in the e-mail.
I think Pimco needs a name change. Does PimpCo work?
Posted 2010-09-29 09:50
by Karl Denninger
Anyone who has read me for any length of time knows that I have nothing but disgust for Bill Gross and PIMCO, and in fact call them “PIMpCO”, because it is my belief that he has repeatedly prostituted himself with both The Fed and Government.
Bill Gross On Doo Doo Economics
Submitted by Tyler Durden on 10/01/2009 16:23 -0500
The latest from the 4th branch of government (pari passu, although junior in ranking, guarantees, subordination, and First Out rights, to Goldman Sachs)
on Thu, 10/01/2009 - 17:21
there’s a reason it’s called Pimpco
New York City • Banking/Finance/Insurance • (0) Comments • Sunday, March 13, 2011 • Permalink