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09-26-2014, 06:56 AM
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#1
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Thinks s/he gets paid by the post
Join Date: Jul 2012
Location: Mississippi
Posts: 1,894
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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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09-26-2014, 07:45 AM
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#2
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Thinks s/he gets paid by the post
Join Date: Jul 2009
Location: North Scottsdale
Posts: 1,545
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Based on his track record of late I say good riddance.
__________________
FIRE'D in July 2009 at 51...Never look back!
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09-26-2014, 07:47 AM
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#3
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jan 2006
Location: Rio Grande Valley
Posts: 38,008
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Whoa! That's huge! Was hard to believe at first. Bill Gross leaves PIMCO to join Janus
__________________
Retired since summer 1999.
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09-26-2014, 07:49 AM
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#4
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: May 2008
Posts: 7,422
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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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09-26-2014, 07:53 AM
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#5
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Feb 2011
Location: NC Triangle
Posts: 5,807
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Management changes are another reason to diversify, I think.
__________________
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09-26-2014, 08:00 AM
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#6
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Thinks s/he gets paid by the post
Join Date: Jul 2011
Location: Bernalillo, NM
Posts: 2,717
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__________________
"We live the lives we lead because of the thoughts we think" ...Michael O’Neill
"We can cannot compel others to do our will" ....Norman Goldman
"There never is shortage of the gullible to accept the illogical"...Anonymous
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09-26-2014, 08:06 AM
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#7
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: May 2008
Posts: 7,422
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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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09-26-2014, 11:46 AM
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#8
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Nov 2010
Location: Sarasota, FL & Vermont
Posts: 36,266
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Quote:
Originally Posted by RockyMtn
Based on his track record of late I say good riddance.
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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?
__________________
If something cannot endure laughter.... it cannot endure.
Patience is the art of concealing your impatience.
Slow and steady wins the race.
Retired Jan 2012 at age 56
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09-26-2014, 12:47 PM
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#9
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Apr 2013
Posts: 11,078
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Quote:
Originally Posted by pb4uski
+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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Don't you think Janus has had enough problems? Maybe Bill will enjoy a Rocky Mountain High?
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09-26-2014, 01:47 PM
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#10
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Thinks s/he gets paid by the post
Join Date: Oct 2002
Location: Chattanooga
Posts: 3,878
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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.
__________________
Earning money is an action, saving money is a behavior, growing money takes a well diversified portfolio and the discipline to ignore market swings.
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09-26-2014, 01:49 PM
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#11
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Nov 2007
Posts: 7,746
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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.
__________________
Retired in 2013 at age 33. Keeping busy reading, blogging, relaxing, gaming, and enjoying the outdoors with my wife and 3 kids (8, 13, and 15).
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09-26-2014, 04:01 PM
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#12
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Administrator
Join Date: Jan 2008
Location: Chicagoland
Posts: 40,586
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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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09-26-2014, 04:03 PM
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#13
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Thinks s/he gets paid by the post
Join Date: Nov 2013
Location: Bay Area
Posts: 2,745
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Quote:
Originally Posted by RockyMtn
Based on his track record of late I say good riddance.
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+1. I have PIMCO fund and it underperformed its fund class for the last year or two.
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09-26-2014, 04:26 PM
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#14
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: May 2008
Posts: 7,422
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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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09-26-2014, 04:36 PM
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#15
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Moderator Emeritus
Join Date: Apr 2011
Location: Conroe, Texas
Posts: 18,645
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Quote:
Originally Posted by explanade
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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Seeing he was top banana, maybe he wrote his own contract.
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09-26-2014, 04:48 PM
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#16
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: May 2008
Posts: 7,422
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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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09-26-2014, 05:09 PM
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#17
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Moderator Emeritus
Join Date: May 2007
Posts: 12,894
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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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09-26-2014, 07:46 PM
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#18
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Nov 2010
Location: Sarasota, FL & Vermont
Posts: 36,266
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Quote:
Originally Posted by explanade
...The Janus fund has only like $12 million in assets ...
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I thought that couldn't possibly be right but that is what Forbes is reporting. Heck, Gross is worth a reported $2.3 billion.
Quote:
Gross is set to helm the Janus Unconstrained Bond Fund, which currently has $12.9 million under management. That’s a far cry from the $221 billion he ran as manager of the PIMCO Total Return Fund.
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__________________
If something cannot endure laughter.... it cannot endure.
Patience is the art of concealing your impatience.
Slow and steady wins the race.
Retired Jan 2012 at age 56
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09-27-2014, 06:01 AM
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#19
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Feb 2006
Location: Washington, DC
Posts: 11,318
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Quote:
Originally Posted by FIREd
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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DW's 401K was the same for many years but they added VG bond indexes and we moved over yesterday.
__________________
Idleness is fatal only to the mediocre -- Albert Camus
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