I think the beginning said everything. Pimco is beating 99% of the competitors because they are so huge that they can manipulate whatever they want... that's the only way they can beat the market because they make the market... in my business everyone knows that one cannot go against PIMCO. Again, the problem of lack of supervision... it's urgent that the countries create mechanisms to avoid hedge funds to grow this much. Apart of this, the rest is just blablabla
This interview just confirms what many suspected. Investors looking at Portuguese debt right now, aside from Portuguese banks, are high-risk, high yield investors. Large funds such as Pimco do not play the distressed game - or at least not openly.