Reason Number One the abrupt departure of Pimco Chief Executive Mohamed El-Erian will not only not hurt the firm but will in fact help it: the old structure of having one chief investment officer sucked. The new structure of having six deputy chief investment officers rocks.
Reason Number Two Pimco 2.0 will make Pimco 1.0 look like a “Before” picture: seating arrangements.
Reason Number Three El-Erian did everyone a favor by leaving: because Bill Gross has an exclamation point that says so. Read more »
“One reason is that I have better things to do with my time. Another is that I don’t think my instant reactions to things are especially interesting. But I have to admit that I’ve also been aware for some time how many people end up destroying themselves by tweeting something really offensive. Why do people do this? Well, it turns out that many prominent people have inner demons of one kind or another — often homophobia, but also racism, sexism, or just some kind of generalized contempt for large numbers of other people. And social media make it all too easy for those demons to slip out in front of a large audience. I don’t think I have any demons like that, but who knows? And if I do make uncomfortable discoveries about myself, I’d like to do it in private, thank you.” [NYT via DI]