This is a massive shake-up in the bond world as Bill Gross announces he is leaving Pimco, the company he founded, immediately for Janus Capital Group. The move is stunning and CNBC reports that Pimco was going to fire Gross for 'erratic behavior' as soon as today.
Pimco is a bond King in the market and this news can't be good for the flagship Total Return Fund that Gross oversaw, which has some 3 trillion dollar in assets under management. For full disclosure, I have most of my bond money with Pimco and plan to divest this money out of the company on this news.
Pimco is a bond King in the market and this news can't be good for the flagship Total Return Fund that Gross oversaw, which has some 3 trillion dollar in assets under management. For full disclosure, I have most of my bond money with Pimco and plan to divest this money out of the company on this news.
