We're big believers in that Peter Lynch quote, that “the person who turns over the most rocks wins the game.” We always say that people who know what they're doing can get 80 percent of the story in no time, just by looking through the financials. But it's that last 20 percent that requires tremendous [...]

I'm still amazed by the things you'll hear or see on a company visit. We visited one company in Florida that made simulators for pilot training and amusement rides and heard all about the long lead time between the start of contract negotiations and product delivery, including nine months or so for manufacturing. Later on [...]

It's certainly not an exact science, but we want to be convinced the people running the company are knowledgeable, capable, trustworthy and energetic. If times are tough we want them to be upfront about it, and if times are good we want them to always be looking around the next corner for trouble. We believe [...]

At PIMCO there are more than 70 different credit analysts covering just about every credit on the planet and producing research that very often has a valuable read across We find that geography makes a difference. The further a company is from New YorkBoston, Chicago, L.A., and San Francisco, the less attention and often less [...]