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Bill Gross' Contrarian Bet Against The Dollar Helps Him Regain Footing
A friend of mine compared Bill Gross to the game of whack-a-mole. He just keeps popping up.
Wonder how many people know that Janus has eight (!) share classes of this fund. The marketing folks at Janus have found a way to sell it to just about everyone. How would you like to pay 1.83% annually for a bond fund? Or maybe you would prefer 1.33%, or how about 1.08%, or even 0.83%, for the same fund? And this doesn't include any up-front or trail commissions. Commission and annual expenses for A-class shares total about 5.85% in the first year. Let's hear it for Janus!
I guess if he's right about the dollar he's going to do well because there aren't many making that bet but it's not what I'd want to hang my hat on. You have to wonder who he is more bothered by- PIMCO for kicking him out or the likes of Gundlach because he seems to have been anointed the new bond king. It has to be pretty tough after achieving what he has to feel unappreciated and like you have to prove yourself all over again.
"It has to be pretty tough after achieving what he has to feel unappreciated and like you have to prove yourself all over again."
His antics and appearances of possibly being under the influence of something didn't help his case much. The highlight was his stage appearance with sunglasses and acting very strange. Not very Bond King like. At that moment, a lot of people wondered why they were sending him money to manage? The past was history and they were looking at the present/future tense of Bill Gross. We all know what happened after that.
I remember David's commentary about that was very funny if you could get past how sad it was that Gross behaved that way. I have a clear opinion about the dollar and it's the opposite of Gross', so I'm biased, but I worry a bit that he's just pointed to center field and he's swinging for the fences (a la Babe Ruth) but he's lost his eye for the ball.
Comments
Wonder how many people know that Janus has eight (!) share classes of this fund. The marketing folks at Janus have found a way to sell it to just about everyone. How would you like to pay 1.83% annually for a bond fund? Or maybe you would prefer 1.33%, or how about 1.08%, or even 0.83%, for the same fund? And this doesn't include any up-front or trail commissions. Commission and annual expenses for A-class shares total about 5.85% in the first year. Let's hear it for Janus!
His antics and appearances of possibly being under the influence of something didn't help his case much. The highlight was his stage appearance with sunglasses and acting very strange. Not very Bond King like. At that moment, a lot of people wondered why they were sending him money to manage? The past was history and they were looking at the present/future tense of Bill Gross. We all know what happened after that.