When bond management legend Bill Gross left parted ways with Pimco, the company he founded, last year, many were surprised by what he choose to do next. Rather than take stock of his illustrious career and realize that he'd had a good, nay, great run, and that it was time to kick back and enjoy life from his beloved shower overlooking the Pacific Ocean, he took a gig with Janus Capital Group. Presumably on account of the way things ended with Pimco-- in that he was essentially told to GTFO because his no eye contact policy and insistence on referring to himself as "Secretariat" was alienating the staff-- Gross felt he couldn't retire yet. That he had to prove himself and in doing so, prove to Pimco that it'd made a huge mistake. A understandable, very human desire, sure, but at what cost? What if he didn't end up proving himself, and the last few paragraphs of The Bill Gross Story ended not with a splash but with the blow of a sad trombone? What if he became...irrelevant. These were the fears keeping awake at night those who care about him. Well fear NO LONGER. 'Cause ole Bill still knows how to make himself part of the conversation.

Bill Gross’s bond mutual fund at Janus Capital Group Inc. suffered a 2.87% decline in its net asset value Monday, according to fund-research firm Morningstar Inc. The drop is unusually large for a bond fund, according to people familiar with the industry. Mr. Gross’s $1.5 billion Janus Global Unconstrained Bond fund follows a strategy that allows it to invest in a variety of securities, unlike a typical bond fund. “I have spent 25 years investing with managers across every asset class, and I don’t think I have ever seen a bond fund drop almost three percent in one day,” says Bradley Alford, chief investment officer at Alpha Capital Management in Atlanta, which manages mutual funds.

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Bill Gross’s Bond Fund at Janus Lost 2.9% Monday [WSJ]