One thing I forgot to add after reading this:
Gross’s main fund, Pimco Total Return, trailed 65 percent of peers in 2013, after beating 90 percent of peers in 2012...
I have not followed Gross on the Web nor looked at his performance at Pimco, but as they say, you are only as good as your last year's performance. You could make people money for decades, and one bad year and they call you a loser. He must be doing something right to build his firm's assets to $2 trillion, right?
I remember that even Buffett was said to be losing his Midas touch when he trailed the S&P in 1999-2000. Gee whiz, how could Berkshire stock, any real company for that matter, compete with dot-coms stocks during the bubble of the late 90s? If Thailand's stock index beats the S&P in one year, do we say the US is losing out to Thailand?
I have a neutral view about Gross, and just find it interesting to watch to see how he's doing in his new job.