Hard Lessons: Dan Ivascyn: Conviction Needs Capital - YouTube

Follow along using the transcript. Follow along using the transcript.

In this episode of Morgan Stanley's Hard Lessons, Dan Ivascyn, Group Chief Investment Officer at PIMCO, joined Morgan Stanley’s Co-President Dan Simkowitz for a deep dive on his experiences during the global financial crisis. He shared how an early underweight on mortgage-backed securities was the right call at the wrong time, and how he ultimately benefited from taking on risk as markets recovered. Dan Ivascyn: We were just talking about, God, how are the rating agencies getting all this wrong? We cannot believe that they're saying that the lifetime overall losses are going to be 4-5%.…

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