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The Rocky series is a modern update of the familiar Horatio Alger tale of the underdog triumphing over adversity. Part of what made Rocky Oscar-worthy was that Rocky ultimately does not win. Of course this sets the stage for Rocky II, where the hero triumphs over his opponent, adversity and his own foibles to win the championship. Rocky III brought us a champ who had become complacent, overindulgent, and a bit lazy, and who is savagely beaten down by a new, hungrier challenger, Clubber Lang.
There was perhaps no better villain in the eighties than Mr. T’s chiseled, mohawked, snarling Clubber Lang, and few better in movie history. Clubber Lang launched Mr. T as a cultural icon and there are relatively few so distinctly of that era who have endured so long and are still so recognizable. In October 2010, Mr. T made a memorable appearance on Bloomberg Television, extolling the virtues of his favorite investment – gold. Nearing sixty, he is no longer the fearsome presence he once was. Thirty years of wearing a golden yoke of up to 45 pounds and five years beating cancer will do that, but he looked quite good for his age and those following his investment advice would more than likely have benefited. Gold is up more than 15% since his appearance (despite the recent pullback), according to COMEX, far outpacing the average pension asset return (represented by the Milliman 100 Pension Funding Index), which has been slightly negative over the same period.
Past performance is not a guarantee or a reliable indicator of future results. All investments contain risk and may lose value. Investing in the bond market is subject to certain risks including market, interest-rate, issuer, credit, and inflation risk. Certain U.S. Government securities are backed by the full faith of the government, obligations of U.S. Government agencies and authorities are supported by varying degrees but are generally not backed by the full faith of the U.S. Government; portfolios that invest in such securities are not guaranteed and will fluctuate in value. Commodities contain heightened risk including market, political, regulatory, and natural conditions, and may not be suitable for all investors. Equities may decline in value due to both real and perceived general market, economic, and industry conditions.
The COMEX (Commodity Exchange Inc.) index is an unmanaged market index that tracks metals such as gold, silver, copper, and aluminum. The Moody’s AA long-term index is a component of Moody’s long-term Corporate Bond index comprise of bonds with maturities greater than 20 years. The Milliman 100 Pension Funding Index projects the funded status for 100 largest defined benefit pension plans reflecting the effect of market returns on plan assets and the impact of interest-rate changes on plan liabilities. The S&P 500 Index is an unmanaged market index generally considered representative of the stock market as a whole. The index focuses on the Large-Cap segment of the U.S. equities market.. It is not possible to invest directly in an unmanaged index.
No part of this material may be reproduced in any form, or referred to in any other publication, without express written permission. Pacific Investment Management Company LLC, 650 Newport Center Drive, Newport Beach, CA 92660, 800-387-4626. ©2014, PIMCO.
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