“I’m really thrilled to get back to [on-site money management work]. I have always been an investment guy.”
“Hiring, paying people, planning and so on became a problem for me. Managing money is in my blood.”
“When it comes to execution of investing ideas, you have more advantages with managing small cap portfolio, say, a scale of less than US$ 100 million, rather than large caps with more than US$ 200 billion.”
Bill Gross, founder of Pimco, and its chief investment officer, not fund manager with Janus
The Bond King thinks interest rates will stay low (image: ecem1.myblog.it/Creative Commons)
SEOUL, Oct. 5 (Korea Bizwire) – Legendary money manager Bill Gross, founder of Pacific Investment Management Co., or Pimco, and its chief investment officer for the past 40 or so years, abruptly resigned last week, prompting ample speculation behind the famed investor’s sudden departure from the giant bond fund.
In his interview with Barron’s weekend edition, the former Chairman of Pimco said, “It is great to wake up early in the morning at 5:30 am and compete against other fund managers to make money from the client.”
Bill Gross, dubbed as the Bond King in Wall Street industry, landed at Janus Capital, newly established fund where he would manage relatively small size portfolio, but that allows him to take more strategic move in a nimble fashion, underscored the Bond genius.
Bill Gross was reportedly at odds with the executive committee of Pimco, the world’s largest bond fund, according to BBC and Mr. Gross sees bond investment opportunities at the moment, lies in Mexico, saying it is “a pretty safe emerging market,” with half the debt level of the US and interest rates around 6%.
By M.H. Lee (mhlee@koreabizwire.com)
