Ready to roughhouse

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Jan. 31, 2024

Pimco executive committee member Christian Stracke, Chief Executive Officer Manny Roman and co-founder Bill Gross.  Photos: Pimco London Investment Summit, 2023; Kyle Grillot/Bloomberg; Misha Friedman/Bloomberg

Read the story Pimco has a history of making chunky contrarian bets. Now it's saying that cracks in the red-hot asset class of private credit could appear as early as this year—and that it plans to use roughhouse tactics more common to hedge funds to grab bargains. If it turns out to be right, this booming $1.7 trillion market is about to get a grueling reality check. Read The Big Take.

Listen to the podcast Bloomberg's Jason Schreier looks at Microsoft's layoffs across its video-game divisions, cancelled games and what lies ahead for the $69 billion acquisition of Activision that it closed late last year. Subscribe and listen on iHeart, Apple and Spotify.

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