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Money, Power or Fame?
In her new book, The Bond King, Mary Childs goes deep on Pimco’s Bill Gross. Some highlights: The guy basically invented active bond investing as we know it today. His track record was phenomenal. He made some amazing calls in his career, most notably the pain that would be inflicted on markets in 2008. He made some terrible calls in his career, including the “new normal” that would spell doom for the stock market and selling all of his treasuries in 2011 over worries about government debt. During Gross’s heyday, Pimco sounds like a VERY difficult place to work. My personality would not mesh well with the ... (full story)
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