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Re: Bill Gross

PostPosted: Tue Oct 10, 2017 6:15 pm
by behappyalways
Bill Gross of Janus blames US Fed for 'fake markets'
https://www.cnbc.com/2017/10/10/bill-gr ... rkets.html

Re: Bill Gross

PostPosted: Sat Feb 09, 2019 2:00 pm
by behappyalways
Final call

Bill Gross, the king of the bond market, abdicates
As the returns vanished, investors lost faith


OUTSIZE RETURNS are hard to come by in the bond market: the approach pioneered by Jack Bogle at Vanguard of matching a benchmark while minimising transaction fees is tough to beat.

There was one person, however, that even Vanguard’s fixed-income team considered in a class of his own and thus worth paying for: Bill Gross, who co-founded Pacific Investment Management Company (PIMCO) in 1971 after a conventional career in finance and risk, plus a brief professional foray onto the blackjack tables of Las Vegas.

On February 4th, Mr Gross and Janus Henderson, his employer for the past few years, announced that he was retiring.

For decades Mr Gross displayed extraordinary acumen, not only in evaluating securities but also in structuring the duration, or time-frame, of his portfolio. He displayed uncanny judgment about when to push maturities just a bit longer or shorter than average.

His calls were amplified by his willingness to offer his punchy opinions on television, unlike the reclusive, grumpy gnomes who managed most fixed-income investments.

That combination of talent and publicity attracted a flood of money. The assets of the fund he personally managed, PIMCO Total Return, reached a record $293bn in 2013. Mr Gross left PIMCO in 2014 after a coup.

Although he was as good at picking brainy colleagues as he was as picking securities, his analytical skills did not, apparently, extend to assessing their loyalty. Subsequently he joined Janus Henderson, a mid-sized fund manager.

Customers fled PIMCO after he left, some of them following him to his new firm. But his magic was gone. Performance was lacklustre and a steady flow of redemptions followed. Half of the $950m remaining under his control is his own money.

Theories explaining the decline are not in short supply. During his long tenure, his techniques have been studied and copied by other clever people. And the nature of debt markets may have changed over the decades.

In a televised interview after the news of his retirement, he said that his greatest error had been to misjudge the relative trajectories of German and American interest rates. Both are consequences of novel post-crisis monetary policy set by central banks.

Human factors may have taken their toll, too. His professional spat with PIMCO was echoed by a messy divorce that played out in the press.

Mr Gross said he had continued to outperform in the management of some funds outside his signature effort. This perhaps says something about where active management can be effective—in niches. He will now focus on managing his own money and his $390m charitable foundation.

That his departure closely follows the accolade-packed obituaries of Mr Bogle, the architect of Vanguard’s strategy of emphasising efficiency over genius, underlines just how much money-management changed during the two men’s storied careers.

Source: The Economist

Re: Bill Gross

PostPosted: Wed Jan 06, 2021 1:28 pm
by winston
Gross says stock market is ‘bubblicious’ and that ‘Robinhood and momentum rule’

By Mark DeCambre

“This market is driven—yes—by intense speculation, but also by fiscally pumped, central bank-primed corporate earnings, which when discounted to present value by near zero nominal and in many cases negative real interest rates, produce record stock prices”.

“My point though is that the 200-basis point decline in real 10 year treasury yields since January 2019, has been instrumental in the 50% price increase in the S&P 500 over the same period”.


Source: Market Watch

https://www.marketwatch.com/story/bill- ... eid=yhoof2

Re: Bill Gross

PostPosted: Wed Jun 02, 2021 9:21 am
by behappyalways
Bill Gross: The Fed Can't Keep Its "Pedal To The Metal" Much Longer
https://www.zerohedge.com/economics/bil ... uch-longer

Re: Bill Gross

PostPosted: Tue Sep 07, 2021 8:40 am
by behappyalways
Bill Gross Mocks "Wokeness", Lashes Out At Bonds As "Investment Garbage"
https://www.zerohedge.com/markets/bill- ... nt-garbage

Re: Bill Gross

PostPosted: Thu Nov 18, 2021 9:21 pm
by behappyalways
"It's Dangerous" - Bill Gross Warns Investors Have Been Lulled Into "Dreamland" By Central Banks
https://www.zerohedge.com/markets/its-d ... tral-banks

Re: Bill Gross

PostPosted: Fri Mar 04, 2022 4:52 pm
by behappyalways
"Don't Get Too Excited" - Bill Gross Warns Investors That Surging Inflation Will Topple Stocks
https://www.zerohedge.com/political/don ... ple-stocks

Re: Bill Gross

PostPosted: Wed Jul 26, 2023 12:58 pm
by winston
'Bond King' Bill Gross predicts stocks will drop as US and China slowdowns overshadow AI hype

by Theron Mohamed

Bill Gross expects the stock market to slump once the economy cools and saps investor enthusiasm.

The "Bond King" expects slowdowns in the US and China to dampen the buzz around AI and stocks.


Source: Business Insider

https://finance.yahoo.com/news/bond-kin ... 46918.html

Re: Bill Gross

PostPosted: Tue Aug 15, 2023 4:46 pm
by behappyalways
Bill Gross Is Bearish On Both Bonds And Stocks, Sees Inflation Stabilizing At 3%
https://www.zerohedge.com/markets/bill- ... bilizing-3

Re: Bill Gross

PostPosted: Thu Sep 14, 2023 4:24 pm
by behappyalways
Feuding Fed-Watchers: Gross Gores Gundlach Over 'Bond King' Title
https://www.zerohedge.com/markets/feudi ... king-title