Heh.Last year I posted a photo of the early construction phase of the PIMCO Taj Mahal. Now they are working on the interior of the building (building on the left).
Using real estate boom worlds tallest building metric for top for bond prices.
Paul
Heh.Last year I posted a photo of the early construction phase of the PIMCO Taj Mahal. Now they are working on the interior of the building (building on the left).
indeed. And when the founders sold out to Allianz, usually calls the top on asset manager firms' performance. Asset managers turn out to be remarkably good at forecasting their own future degree of outperformance.nisiprius wrote:I honestly do believe in the "edifice complex"--that it's often a sign of hubris at the top when a corporation erects a monumental new headquarters building. But it wouldn't be an indicator of something about the bond market, it would be an indicator of something about PIMCO.
http://www.calculatedriskblog.com/2012/ ... mahal.htmlstratton wrote:Does this mark the top for bond prices?Heh.Last year I posted a photo of the early construction phase of the PIMCO Taj Mahal. Now they are working on the interior of the building (building on the left).
Using real estate boom worlds tallest building metric for top for bond prices.
Paul
Real estate or not, we'll know in about 50 years whether bond prices were more-or-less at the top (with the mathematically-equivalent yields at the bottom) of a short term cycle.stratton wrote:Does this mark the top for bond prices?Heh.Last year I posted a photo of the early construction phase of the PIMCO Taj Mahal. Now they are working on the interior of the building (building on the left).
Using real estate boom worlds tallest building metric for top for bond prices.
Paul