Ex-bond king Bill Gross has something to prove
Now at Janus Capital, he manages less than 1% of the assets he once ran at Pimco
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New York
IT'S a question only Bill Gross can answer: Why, after earning a reputation as the greatest bond investor of all time, after building Pacific Investment Management Co into a US$2 trillion colossus, after losing a power struggle with his own colleagues, didn't he just walk away?
Instead, Mr Gross stunned the financial world in September by leaving for Denver-based Janus Capital Group Inc. The former "bond king" now manages less than 1 per cent of the assets he once ran at Pimco, the firm he co-founded in 1971.
