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New York Times: Bill Gross Leaves Pimco, "Reportedly Under Pressure"
"William H. Gross appears to have jumped before he could be pushed out at Pimco, the big money management firm he helped build from scratch... comes after weeks of behind-the-scenes discussions to replace him."
I'm on the side of Bill Gross. We are not talking of bull market manager here. You do something 30+ years consistently, pride and self respect can start getting confused with ego.
I wish him all the best, but he should have started Gross Total Return. On that note, he is 70 and worth $2B. Why not retire and put idiots coming on CNBC out of business? Not sure why we wants to work for someone else.
I think he wants to show that the “old” B/G still has the gusto when it comes to running a mutual fund … I wish him well even though I have not had much money invested with him and/or at Pimco. Currently, I have a little better than three percent of my money with Pimco and that is in PASAX who is run by Rob Arnott and is a fund of funds. I going to watch it closely and have placed it under review. That is the second time it has been under review in the past two years.
I don’t think I’ll be following B/G with any money into his fund at Janus. I recently moved some money into Kathleen Gaffney’s fund at Eaton Vance. So far, I like how she has positioned this fund and its results so far.
With Mr. Gross being around seventy years in age … Well, just how much longer can he skipper a fund?
I posted a link recently that lists BIll Gross as one of the top 10 money managers of all time. It met with decidedly unenthusiastic response - for understandable reasons.
Making money over time in bonds must be incredibly difficult. Unlike equities, which inevitably rise over very long periods, bonds don't inevitably go up. (Interest rates fluctuate in both directions over longer periods). Yes, they'll yield the "coupon" to maturity - but not the type of positive returns Gross has generated.
So, we need to separate Gross's investment savvy (of which he has plenty) from the personal issues which have contributed to his current situation. And, I think folks here have done a good job separating the two. But, we're human. Guess there's something entertaining about seeing the King handed his head on a platter.
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http://dealbook.nytimes.com/2014/09/26/the-long-and-colorful-reign-of-the-bond-king/
Warren Buffett: "It's only when the tide goes out that you learn who's been swimming naked."
I wish him all the best, but he should have started Gross Total Return. On that note, he is 70 and worth $2B. Why not retire and put idiots coming on CNBC out of business? Not sure why we wants to work for someone else.
I think he wants to show that the “old” B/G still has the gusto when it comes to running a mutual fund … I wish him well even though I have not had much money invested with him and/or at Pimco. Currently, I have a little better than three percent of my money with Pimco and that is in PASAX who is run by Rob Arnott and is a fund of funds. I going to watch it closely and have placed it under review. That is the second time it has been under review in the past two years.
I don’t think I’ll be following B/G with any money into his fund at Janus. I recently moved some money into Kathleen Gaffney’s fund at Eaton Vance. So far, I like how she has positioned this fund and its results so far.
With Mr. Gross being around seventy years in age … Well, just how much longer can he skipper a fund?
Old_Skeet
I posted a link recently that lists BIll Gross as one of the top 10 money managers of all time. It met with decidedly unenthusiastic response - for understandable reasons.
Making money over time in bonds must be incredibly difficult. Unlike equities, which inevitably rise over very long periods, bonds don't inevitably go up. (Interest rates fluctuate in both directions over longer periods). Yes, they'll yield the "coupon" to maturity - but not the type of positive returns Gross has generated.
So, we need to separate Gross's investment savvy (of which he has plenty) from the personal issues which have contributed to his current situation. And, I think folks here have done a good job separating the two. But, we're human. Guess there's something entertaining about seeing the King handed his head on a platter.