Turns Out, Smart Money Does Know Things

On my 7DS blog, and on AOL, I wrote about the phenomenon of super-rich people paying cash for expensive ($5m plus) homes in California. And I wondered what it is that they knew that the rest of us didn't. Here's the post on 7DS, and here's the one on AOL.

Well, turns out, the rich do know things we don't. The largest bond fund in the world, PIMCO, is dum…