FYI: Bill Gross, the former bond king, may be officially retired, but he had one final warning for those still managing money: You’ll never outperform the way he did in his heyday at Pacific Investment Management Co.
To be clear, this isn’t his ego talking. In a conversation with Bloomberg News’s Erik Schatzker, Gross said that markets have changed, becoming so much more efficient that virtually no wagers are surefire ways to get ahead and generate so-called alpha. Here are a few ways he said he outperformed both his benchmark and his peers over the years, without necessarily any “brilliance” on his part:
Regards,
Ted
https://www.bloomberg.com/opinion/articles/2019-03-04/bill-gross-is-right-about-alpha-getting-harder
