I Know That PIMCO's Bill Gross Is Supposed to Be Smart And All ...


... and we even have a story about him (Atlantic photo, right) in the current issue (subscribe!).

But, merciful heavens, is there no limit to "smart" people's credulous ignorance, to say nothing of lax cliche-mindedness, about amphibian metaphors? From the "astute" newsletter he has just put out:

>>Put a frog in a kettle of boiling water and he'll jump out faster and further than any of those blue ribbon winners at the Calaveras County jumping frog contest. Put him in a pot at room temperature, however, slowly turn up the temperature to boiling, and you'll have frog legs for dinner. This latter, more unfortunate toad temporarily adapted to his external environment, which seemed like a practical thing to do, until - well, until he reached 212° at which point he was cooked.
Today's bond investors are experiencing a similar fate with nary a "ribbet" of complaint....<<

This "original" and "perceptive" way of thinking makes me extra respectful of the insights that it introduces. I'm really listening now, Mr. Gross!

Maybe henceforth I'll take my bond advice from the inimitable Tom Tomorrow. And, you're right: what really offends me here is the hackneyed nature of the expression. If this is the way people reason and assess evidence in a field I happen to know about, then...


(I know there is other news going on, but so many people wrote in that, for the record, I needed to note the event.)