Bill Gross: “I was Fired From Pimco”

On “Before The Bell,” Bloomberg’s Betty Liu, Olivia Sterns and Bloomberg View columnist Barry Ritholtz run down the top stories of the day.

Bloomberg, Jan. 12 2015

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  1. Singmaster commented on Jan 12

    Wisdom we can all heed:
    Gross said he visited a neighbor, a retired air force general, after his exit from Pimco. As he was leaving, the retired general said Gross should have visited six months earlier because he could have taught him the first rule of the military.
    “I said, ‘what’s that?’ and he said: ‘watch your back,’” Gross said.

    “Hell begins the day that God grants you the vision to see all that you could have done, should have done, and would have done, but did not do.” -Johann Wolfgang von Goethe (1749-1832)

  2. intlacct commented on Jan 13

    If I understand correctly, he massively underperformed a passive strategy and got paid $270mm. What a disservice to investors.

  3. intlacct commented on Jan 13

    ‘penalizing savers’ = penalizing rich people mainly. Strangely, I’m OK with that.

  4. intlacct commented on Jan 13

    He would have gone to 1%? But even at 0% hiring was WAY to slow for those of us with friends of a certain age and kids who need jobs. But what does he care? He gets his $290mm. And his stamp collection and philanthropic activities.

    On his bonus, wasn’t it a high percent of the pool? But how much of the AUM fled? 5%?

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