you work at pemco. everybody knows bill gross.hat is the culture like there and how with -- you are playing with lebron james, man. come on. what is it like to work there? competitive, what? >> it is quite frankly an honor. all 2300 employees at pemco feel comfortable to work there. work with bill. he is an incredible -- >> oh come on. it is not that good. >> well we do get up early in morning. but outside of that, bill is a legend. he built a $2 trillion company. he is a great player and great coach. i wouldn't be sitting in this coach if it weren't or him. mohamed, as well as other employees at pemco. >> are you -- but let me talk about the u.s. markets, do you think 2013 will be a good year for u.s. equities? >> i think an average year. we have seen the market go up a full point in the last year. i think an average or below average year. >> gentlemen, congratulations. we appreciate you being with us today. and we will wrap it up here from the morningstar manager of the year awards in just a couple of moments. meantime, sue, bac

>> bill gross, pemco won the floor. we appreciate you joining us on such short notice. as soon as we saw these headlines, we said with be we have to get bill on the line. do you few it this way? >> no, not a sea change but a bit of a surprise. a few wanted qe to end at the end of 2013 and several wanted it well before. so that means perhaps four or five members are in the opposing camp. the three musketeers, are driving force of the fed, in terms of decision making, as is mr. evans. so i think that they will maintain control, so to speak. but the surprise is that there is more dissension than what we thought beforehand. >> at the end of the day, bill, what are the chances there would be any conditions in the economy to slow or stop the those purchases before the end of the year. >> good point. there was a new set of objectives as you mentioned, 5.6% unemployment and 12.5% inflation for 1 to 2 years. it seems to us at pimco and i think for the market, that unless we brooched 6.5% unemployment on the done side and quantitative aedsing would continue. we think they have ve