The price has gone up over 16% per year since inception,
so who cares how much of a drop there is? Reinvest your dividends and check back in 12 months. Who cares if one knows the difference between your and you're? It took me three years to get through the fourth grade, and now I know my P's and Q's. PCI, PDI and PTY are three groups of letters that I like the best. Going to the beginning of the alphabet, AWF is another good group.
I have owned pty since 09, bought and sold numerous times, and have done extremely well, however, we are likely entering a far different interest rate environment than at any time since pty's inception.
Even Gross recently speculated that the 30 year bull market in bonds is ending....a no brainer considering the level of governmental debt that has piled up since Bush's first term.
Please google "Bill Gross, El and Consuelo Mack", I think they were both on and letting you know where they stand on their funds and how they precieve the pps and the premium. Find the transcript it will help make it all clear for you, from the horses mouth.
Furthermore, google "El, fake volume, squawk box". If you find that transcript, 3 to 5 weeks ago, I forget now, he expresses his concern about brokers colluding without saying the world collusion.
Don't take anyones word for it, research it, I don't fabricate or exaggerate such topics of conversation.
Bob, I am not saying Pimco isn't good, I am saying that the brokers have been colluding far too long without Bill or El actually dropping the hammer on them, which they can but choose not to.