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Troubles at PIMCO
Old 09-26-2014, 07:56 AM   #1
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Troubles at PIMCO

Wonder what is going on at PIMCO. For the Bill Gross fans the story this morning is he is leaving to join Janus

Pimco founder Bill Gross to join Janus Capital - MarketWatch

This after El Erian left in January ( still with Allianz ). Two top dogs have exited.
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Old 09-26-2014, 08:45 AM   #2
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Based on his track record of late I say good riddance.
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Old 09-26-2014, 08:47 AM   #3
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Whoa! That's huge! Was hard to believe at first. Bill Gross leaves PIMCO to join Janus
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Old 09-26-2014, 08:49 AM   #4
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So PIMCO funds aren't low-cost are they?

At 70, what does he have left to prove? Or just want to have more to leave to his heirs?

Instead of FIRE'ing, he's going to try to screw over his old bosses?
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Old 09-26-2014, 08:53 AM   #5
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Management changes are another reason to diversify, I think.
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Old 09-26-2014, 09:00 AM   #6
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How did the SEC fit into this move Pimco under investigation by SEC - Sep. 24, 2014
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Old 09-26-2014, 09:06 AM   #7
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CNBC is reporting that Gross would have been fired (not FIRE'd) so this move seems a pre-emptive action on his part.
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Old 09-26-2014, 12:46 PM   #8
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Based on his track record of late I say good riddance.
+1 Perhaps the thread should be titled "Troubles soon to come to Janus". I think he is too full of himself. Why doesn't he just retire?
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Old 09-26-2014, 01:47 PM   #9
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+1 Perhaps the thread should be titled "Troubles soon to come to Janus". I think he is too full of himself. Why doesn't he just retire?
Don't you think Janus has had enough problems? Maybe Bill will enjoy a Rocky Mountain High?

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Old 09-26-2014, 02:47 PM   #10
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Maybe a little pot smoking behavior modification is just what Billy needs. Rumor has it he's been acting a little strange of late. Probably due to low interest rates.
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Old 09-26-2014, 02:49 PM   #11
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Makes me glad I have incredibly boring Vanguard index funds (with a few ishares ETFs index funds thrown in for spice). I'd hate to have to consider selling a highly appreciated position (which is almost everything I own now) and taking a tax hit if the managers change suddenly and I want out.
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Old 09-26-2014, 05:01 PM   #12
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What about Paul McCulley? He retired from PIMCO 3 1/2 years ago, and after ME-E left Gross convinced him to return. He even cut his hair. Only to be dumped like a bad prom date. Talk about ruining someone's retirement. A lesson for all of us.
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Old 09-26-2014, 05:03 PM   #13
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Based on his track record of late I say good riddance.
+1. I have PIMCO fund and it underperformed its fund class for the last year or two.
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Old 09-26-2014, 05:26 PM   #14
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Sounds like Gross is going to a competitor to try to hurt his previous employer. You'd think he'd have a non-compete clause in his contract?

Still wanting to prove something at 70 ...
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Old 09-26-2014, 05:36 PM   #15
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Sounds like Gross is going to a competitor to try to hurt his previous employer. You'd think he'd have a non-compete clause in his contract?

Still wanting to prove something at 70 ...
Seeing he was top banana, maybe he wrote his own contract.
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Old 09-26-2014, 05:48 PM   #16
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I heard CNBC talk about Allianz. So maybe they were acquired at some point by a big bank.

Obviously he wasn't the owner of the company or else he wouldn't be forced out and erratic behavior wouldn't matter if he had ultimate control of the company.

The Janus fund has only like $12 million in assets compared to over a trillion in the PIMCO funds he used to manage. Will he try to poach PIMCO clients?
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Old 09-26-2014, 06:09 PM   #17
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PIMCO Total Return is the only bond option in DW's 401K. We have six figures riding on this fund. I have been lobbying for a Fidelity or Vanguard alternative. This might force a change.
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Old 09-26-2014, 08:46 PM   #18
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...The Janus fund has only like $12 million in assets ...
I thought that couldn't possibly be right but that is what Forbes is reporting. Heck, Gross is worth a reported $2.3 billion.

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Gross is set to helm the Janus Unconstrained Bond Fund, which currently has $12.9 million under management. Thatís a far cry from the $221 billion he ran as manager of the PIMCO Total Return Fund.
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Old 09-27-2014, 07:01 AM   #19
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PIMCO Total Return is the only bond option in DW's 401K. We have six figures riding on this fund. I have been lobbying for a Fidelity or Vanguard alternative. This might force a change.
DW's 401K was the same for many years but they added VG bond indexes and we moved over yesterday.
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Old 09-27-2014, 11:14 AM   #20
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How much 4 years can change opinions! Fund manager of the decade!

https://corporate.morningstar.com/US...&filter=PR4459
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