Friday, May 27, 2016

A Tribute to the Former Bond King

May 26, 2016
Gross Trying to Short Credit to Reverse Decades of Instinct

It’s becoming increasingly difficult for money managers to justify their fees or their jobs, Gross said.

“I know that my investors want three, four, or five percent, or else they can keep it in the bank or stuff it in their mattress,” he said.

So I must leave, I'll have to go
To Janus Funds, no more Pimco
And win a fortune in a game
My life will never be the same


mab said...

Justifying fees is a huge expenses for the Bond King!

Stagflationary Mark said...



His unconstrained bond fund is up 1.7% since he took over in October 2014.

The Fund has significant latitude to act on high conviction ideas and seeks to achieve positive absolute returns in a variety of market environments.

Such lofty goals!

For what it is worth, my interest paying checking account achieves positive absolute returns in every market environment. Every single month they add at least a few pennies to my account, lol. Sigh.