Loading ...
Snip: “Bill Gross, who co-founded and led the giant fund manager Pimco for more than four decades, is leaving the company to join Janus Capital.
Investors have been pulling money out of Pimco’s Total Return Fund, the world’s biggest bond fund, for more than a year over worries about Gross’ ability to continue to deliver big returns. Investors have also been rattled by reports of a regulatory probe into the way Pimco has been valuing bonds in a smaller fund and by management turmoil at the company. In January, Gross’s heir apparent, Mohamed El-Erian, abruptly resigned.
http://news.ino.com/headlines/?newsid=306923928
Comment: The more one gets a peek under the hood of these markets, you have to wonder how much longer Richard’s 640 pie crust will last. Plenty of ‘tremors’ signaling something is about to blow. Got Gold?