Mohamed El-Erian’s Departure Had Nothing To Do With Bill Gross’s Habit Of Telling People To STFU With Just A LookBy Bess Levin
Gross, who manages the $232 billion Total Return Fund, said April 10 on a Bloomberg Television interview that El-Erian’s resignation was a mystery to him and he may have been premature in anointing him as his sole successor…El-Erian said he now spends up to 50 percent of his time advising Pimco’s parent Allianz and is occupied with what he called a “portfolio” of part-time activities. This includes writing a column for Bloomberg View, the opinion section of Bloomberg News, working on a book about central banks and doing a periodic column for the Financial Times. He’s also spending more time with his daughter, whom he cited as a central reason for his exit from Pimco. “You realize there are special moments in your children’s life,” El-Erian said. “I was missing too many of these special moments. It is that simple.”
Will Bill Gross break his long silence and go on CNBC later today to say something to the effect of “THAT’S NOT WHY HE LEFT. TELL THE TRUTH MO. TELL THE TRUTH!”? It would be out of character, but anything’s possible.
Related: Mohammed El-Erian May Have Left Pimco Because Of A Chronic And Debilitating Condition That Caused Him To Regularly Look People In The Eye; Don’t Get Caught On “His” Side: A Survival Guide For Pimco Employees; Pimco Investor Considering Pulling Out Over Secretariat’s Erratic Behavior, Some Other Stuff; The New Bill Gross Doesn’t Bite (And If He Does It’s Only Because Old Habits Die Hard); Cheesecake And Kisses: Bill Gross Reflects