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Started By
Message
Bill Gross leaving PIMCO
Posted on 9/26/14 at 7:42 am
Posted on 9/26/14 at 7:42 am
Leaving for new Newport Beach office JANUS.
Shock of the morning.
Shock of the morning.
4
Posted on 9/26/14 at 8:01 am to Blakely Bimbo
Whoa
Posted on 9/26/14 at 8:48 am to Blakely Bimbo
Janus' stock price is up 35% (+$3.99) in early trading this morning.
Based on the number of outstanding shares (183.4 million), Gross' hire at Janus has added over $725 million to Janus' market cap....
Based on the number of outstanding shares (183.4 million), Gross' hire at Janus has added over $725 million to Janus' market cap....
Posted on 9/26/14 at 8:53 am to LSURussian
David Faber on CNBC, now reporting that Gross was going to be fired tomorrow. "Gross exhibiting increasingly erratic behavior."
Will El Erian return? He is still on Allianz payroll.
Only time will tell, but will we look back at this news and realize it was some kind of pinnacle?
Will El Erian return? He is still on Allianz payroll.
Only time will tell, but will we look back at this news and realize it was some kind of pinnacle?
Posted on 9/26/14 at 8:55 am to Blakely Bimbo
quote:His bio says he recently adopted using (is that the correct term?) transcendental meditation.
"Gross exhibiting increasingly erratic behavior."
Posted on 9/26/14 at 9:00 am to LSURussian
Faber reporting that top management was saying "it's either him or us."
This post was edited on 9/26/14 at 9:02 am
Posted on 9/26/14 at 9:01 am to Blakely Bimbo
quote:I bet his starting salary is more than that....
Janus Fund is only $12 million.
Posted on 9/26/14 at 9:03 am to LSURussian
I edited the $12 million because I heard it reported as $12 million this am. However, Faber just said it was $12 billion. Don't know what is correct.
Posted on 9/26/14 at 9:09 am to Blakely Bimbo
quote:You were correct the first time and Faber is wrong. The fund Gross will be managing, the Janus Global Unconstrained Bond Fund, has $12.86 million in net assets.
I edited the $12 million because I heard it reported as $12 million this am. However, Faber just said it was $12 billion. Don't know what is correct.
Posted on 9/26/14 at 9:11 am to LSURussian
Excuse the hijack....
Where do you guys get your info on fund managers? Whats your go to resources?
Where do you guys get your info on fund managers? Whats your go to resources?
Posted on 9/26/14 at 9:13 am to wasteland
Morningstar
Posted on 9/26/14 at 9:28 am to LSURussian
quote:
adopted using (is that the correct term?) transcendental meditation.
That'll make your investors run for the hills. Not the fact that that you do it, but the fact you are nuts enough to have it on your bio.
Posted on 9/26/14 at 10:09 am to LSU0358
From BI quoting earlier WSJ article...
BI
Seems like Gross has something in common with a famous SEC FB Coach.
Bloomberg reporting that El Erian will not return as CEO.
quote:
Sources also told the Journal that Gross referred to himself as "Secretariat," the legendary racehorse. The article also said that Gross doesn't like his traders making eye contact or speaking with him.
BI
Seems like Gross has something in common with a famous SEC FB Coach.
Bloomberg reporting that El Erian will not return as CEO.
Posted on 9/26/14 at 12:16 pm to Blakely Bimbo
I tried to short 2K shares of JNS this morning after the big run up thinking the euphoria over Gross' hiring will be short lived but Schwab sent me a message that there are no shares available for borrowing so it canceled my order.
I guess I'm not the only person thinking the hype is a bit too much.
I guess I'm not the only person thinking the hype is a bit too much.
Posted on 9/26/14 at 3:55 pm to LSURussian
Bond market is dead.
Posted on 9/26/14 at 4:26 pm to Blakely Bimbo
His monthly publications were always kind of goofy, and I do remember that bit from August 2013 ( LINK) about how "PIMCO will not go down at the Somme", but I just chalked that up to his eccentric personality.... kinda like a Dale Brown character.
Another take on the situation is that the stress of the current bond environment has just been immense, and that this happens to be a great time to get the hell out of Dodge--meaning that Gross is just a master of good timing. This was reflected by the title of Megan McArdle's column today: " Bill Gross Gets Out of Bonds (Just in Time)."
I wonder what B&tIJ thinks about this.
Another take on the situation is that the stress of the current bond environment has just been immense, and that this happens to be a great time to get the hell out of Dodge--meaning that Gross is just a master of good timing. This was reflected by the title of Megan McArdle's column today: " Bill Gross Gets Out of Bonds (Just in Time)."
I wonder what B&tIJ thinks about this.
Posted on 9/26/14 at 7:54 pm to Blakely Bimbo
Thankfully I sold all my total returns fund shares this summer. 
. May pay attention and get back into the fund if it dips again. Really wasn't performing all that well over the last two years anyway, so probably wont be too hard to get back to gross' s levels.
. May pay attention and get back into the fund if it dips again. Really wasn't performing all that well over the last two years anyway, so probably wont be too hard to get back to gross' s levels. 
Posted on 9/26/14 at 10:55 pm to Doc Fenton
I always enjoyed his investment outlook podcast.
Posted on 12/16/14 at 3:13 pm to Blakely Bimbo
I was looking for an update on this situation. I heard over on the Poliboard from LSURussian that Gross "damn near bankrupted" PIMCO from an incorrect rates bet that he made in the 2 years preceding his departure.
Obviously, that's one of the stupidest things anyone has ever alleged, but I thought maybe you guys could shed some light.
LINK
Obviously, that's one of the stupidest things anyone has ever alleged, but I thought maybe you guys could shed some light.
LINK
Posted on 12/16/14 at 3:31 pm to KG6
quote:
Really wasn't performing all that well over the last two years anyway, so probably wont be too hard to get back to gross' s levels
Since this was bumped today I'll go ahead and add.
I still hold Pimco Total Return and while I'm not going to retire of it's return, it is outperforming B Gross's new fund.
WSJ -paysite
quote:
His new Janus fund, which had only about $12 million in assets when he arrived, has returned a negative 1.10%, according to investment research firm Morningstar. Meanwhile, Pimco Total Return has gained 1.13%.
Probably not a fair assessment as PIMCO had to sell so much to pay off fleeing investors after Gross left.
If you can read the WSJ article it's worth it. It sounds like the author Karen Damato has an axe to grind with BG.
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