Mohamed El-Erian

  • 13 May 2014 at 3:11 PM

Bill Gross Not Yet Ready To Let A Certain Someone Go

Last month, Pimco deputy chief investment officer Scott Mather announced that the “new normal,” a phrase created by Pimco founder Bill Gross and former CEO Mohamed El-Erian, was no longer. “Our view is that what you’ll see in next the few years is we’re going to head back to a new destination,” Maher said in an interview with Bloomberg Surveillance. It was assumed that Maher made the proclamation with the full backing of Gross, and, what’s more, that it came about as a result of Gross’s feelings for his collaborator El-Erian, who quit in February and who Gross, after a series of outbursts regarding the departure, was ready to declare dead to him, along with the phrase. Apparently, though, Maher spoke too soon. Read more »

Maybe the firm’s growth forecast for the U.S. is legit. Maybe we really are “head[ing] back to a new destination.” OR MAYBE SOMEONE JUST CAN’T STAND TO HEAR A PHRASE THAT REMINDS HIM OF SOMEONE WITH WHOM SOMEONE SPENT MANY A LATE NIGHT EATING GREASY TAKE OUT AND STANDING IN FRONT OF A WHITEBOARD WHILE TRYING TO COME UP WITH THE PERFECT NAME FOR THE CONCEPT…WHO SOMEONE RUES THE DAY HE EVER MET.. Read more »

Or so he says. Read more »

  • 10 Apr 2014 at 4:27 PM

Bill Gross Wants El-Erian To Say It To His Face

Gross, speaking in an interview with Bloomberg Television’s Trish Regan today, said El-Erian’s departure is still a mystery for him and a disappointment for the firm, which manages the world’s biggest bond fund. “I would say, ‘Come on, Mohamed, tell us why’,” Gross said in the interview. [Bloomberg, earlier]

As those of you who follow the news out of Newport Beach, California know, the past couple months have not been the best for Bill Gross. First, Pimco co-CEO Mohammed El-Erian announced that he would be parting ways with the bond giant. Then, the Wall Street Journal detailed his “What the fuck are you looking at” management style, in an article that also revealed Gross’s nickname for himself: Secretariat. Next, Reuters refused to print his theory that El-Erian had penned the Journal story himself, and instead made him not look great by quoting him as saying that El-Erian was waging a campaign to undermine him and that ME-E had Reuterswrapped around his charming right finger.” Along the way, people have offered up suggestions re: how you solve a problem like Bill Gross, which have included not investing with him, slashing his $200 million/year salary, teaching him remedial strategies for acting like a sentient human being who would not admonish someone for daring to look him in the eye and, most recently, putting him out to pasture. Read more »

  • 20 Mar 2014 at 2:43 PM

Morningstar Thinks PIMCO Will Be Just Fine

The font of all mutual-fund expertise thinks Evensky and Katz Wealth Management may be overreacting, if only just a little. Sure, no one likes to hear all of the talk about how PIMCO chief Bill Gross is kinda maybe a sort-of borderline tyrant, but it’s just talk. Morningstar would prefer to focus on the real issues arising from Mohamed El-Erian’s exit, which those gossip-peddlers in the MSM choose to ignore in favor of eye-contact preferences, communication demerits and one individual’s efforts to reinvent himself in the face of their revelations. Read more »

In mid-February, a group of current and former Pimco employees were invited to a private farewell party for Mohamed El-Erian on March 10, to mark his impending departure as chief executive of the world’s largest bond fund. El-Erian soon realized it was not a good idea, according to three sources who had received the invitations and are in contact with him…El-Erian postponed the party soon after the March 6 Reuters report, suggesting to colleagues and friends that he did not want things to become awkward for his guests, and out of respect for the tense situation at Pimco, the sources said. [Reuters, earlier]