Some readers may recall that the Slog recently highlighted the decision by Pimco to turn its back on eurozone sovereign debt as being a mug’s game.

Bill Gross (left), the man in charge at Pimco, is far from being dumb….as he showed again today, by deciding to diversify his asset classes into eurozone equities.

Mr Gross, I’ll wager, will watch all the markets come tumbling down, and then move in to pick up the bargains at the bottom. If I had the money for some shares in this group right now, I’d be buying them.

This isn’t ‘nasty company makes money from misfortune of others’. It’s ‘wide-awake company gives delusional politicians a lesson in reality’.