From what I’ve heard, others want Bill removed because of poor performance, but Bill wanted low yield, safe assets, while others want high reward, risky assets
I would look at this way....they wanted a fund vehicle for safe returns. Safe returns twenty-five years ago meant seven-percent a year on average. Safe returns today mean three-percent a year on average. Folks just don’t grasp that when the fed rate went to almost zero...we really screwed up our traditional safe return market. Bill did his job...but it’s in an environment where people just won’t accept low and safe returns anymore.
My dad would refer to this period in the late 1960s to late 1970s...where a bank CD could get as high as twelve-percent on some rare occasions, and would routinely hit seven percent. Old guys liked that type of risk market and decent return.
This is why I just sold our BOND etf’s : “From what I’ve heard, others want Bill removed because of poor performance, but Bill wanted low yield, safe assets, while others want high reward, risky assets.”
Whenever, Bill left a fund management position. We sold what he had managed and never looked back.
RE: From what I’ve heard, others want Bill removed because of poor performance, but Bill wanted low yield, safe assets, while others want high reward, risky assets
This news seems to have confirmed what you heard...
Bill Gross was showing “increasingly erratic behavior” and was about to be fired from Pimco, according to both The Wall Street Journal and CNBC. Janus Capital Group Inc. JNS, on Friday said Gross would join its firm, effective Monday, and manage the Janus Global Unconstrained Bond Fund JUCAX.
Pimco didn’t immediately respond to a request for comment on the reports but said in an earlier statement that “over the course of this year it became increasingly clear that the firm’s leadership and Bill have fundamental differences about how to take PIMCO forward.”