The Lending Lindy

September 6, 2012

Credit, of course, is what makes the global economy go.

-Bill Gross, managing director, PIMCO

  • Our entire finance-based monetary system - led by banks but typified by insurance companies, investment management firms and hedge funds as well - is based on an acceptable level of carry and the expectation of earning it. 
  • In a New Normal economy where lenders dance to the Blue Danube instead of the Lindy, how should we move our own feet?  Carefully, I suppose, and with recognition that historic returns are just that - historic.

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