A 'trade of a lifetime' isn't 15%.
Bill Gross has appeared on every financial news network that would take him today. Ostensibly, the purpose of his arrival was to proclaim his latest brilliant idea -- shorting German bunds.
Where he loses me is when he says it's the 'trade of a lifetime'. He said the return could be 10-15% over two years (but more if leveraged).
That's a good trade, maybe a great trade, but calling it the 'trade of a lifetime' screams of someone who is trying to get attention; either for his new venture at Janus, for his ego or because he has some bunds he wants to sell. Shorting CDO squared at the top of the housing market is the 'trade of a lifetime', a 6% annualized return in Bunds isn't.
Update: He now adds that traders should wait until the end of ECB QE before making the trade.
