Bill Gross

Or so he says. Read more »

DoubleLine Capital, the bond management firm run by Jeffrey Gundlach, said on Monday it had hired an executive from rival Pimco to run a new unit focused on developing new investment products and lines of business, particularly outside the United States. DoubleLine named Ignacio Sosa, previously Pimco’s executive vice president for global bond product management, director of its newly formed Product Solutions Group. He starts on May 12 and will report to Gundlach. Sosa’s departure comes after a management shakeup and months of investor outflows at Newport Beach, California-based Pimco. [Reuters, related]

Why Mohamed? Why? Read more »

  • 10 Apr 2014 at 3:34 PM

Cheesecake And Kisses: Bill Gross Reflects

Three months ago, Bill Gross thought he knew himself. Thought he knew where his life was headed. Thought he knew how people saw him. He knew that each morning when he woke up he would feed the cats. He knew that he’d eat some eggs and kiss his sleeping wife good-bye. He knew he’d get in his convertible and drive over to the office using his knees to steer the wheel, leaving his hands free to munch on the Special K he’d packed for the ride. He knew he’d sit down at his desk at and work in total silence. He knew that at 9AM PST, he’d sweat things out on the recumbent bike. He knew he’d avoid speaking to employees, or asking how their kids were doing.

In reality, he knew nothing. Read more »

Bob Gross The Cat, who rose to prominence as an honorary CIO of the world’s biggest bond firm and had the uncommon intellectual capability to understand when her owner was on television, died last week. She was 14 years old. Bob is survived by her loving masters, Bill and Sue. Read more »

  • 02 Apr 2014 at 11:30 AM

Pimco Doesn’t Need Your Pity

Investors pulled another $3.1 billion from Pimco’s flagship fund in March, the 11th straight month of outflows from the world’s largest bond fund, and its performance on the month lagged 95 percent of its peers due to a spate of wrong calls by long-time manager Bill Gross…Pimco spokesman Mark Porterfield said: “It’s important to compare a fund’s performance with its benchmark and not just with other mutual funds, which could hold riskier and higher-yielding assets. Total Return has outperformed its index for the past six months, two, five and 10 years.” [Reuters]

The good news: Bill Gross is taking baby steps toward being comfortable with employees looking him in the eye and one day might even be able to sustain an entire conversation in which no one averts their gaze. The less good news: performance year to date. Read more »