Bill Gross has had a huge career. He’s a giant. More specifically, he was The Bond King.
That was at Pimco, from which Gross was ousted. Lawsuits ensued. Gross is getting paid a King’s Ransom by Janus but being King isn’t about money. It’s about respect. Ask a kid who the king of the NBA is. He won’t say Kobe Bryant (highest salary). He probably won’t even say LaBron “King” James.
The King of the NBA is Steph Curry. Go ahead and ask the kids on the nearest court.
The King of Bonds is Jeff Gundlach. Ask any bond trader. Or Forbes magazine:
Some Kings go into retirement with dignity. Most deposed members of industry royalty, be it athletic or business either become bitter or hang around long enough to see their own back-lash. If you want a good interview about a screwed up company book the ex-CEO.
It’s very hard to be an ex-King. It’s hurtful and confusing. It would be lunacy to think such a dramatic change of a man’s station in life wouldn’t impact his view on the world.
So here’s the view from the the former Bond King. My take aways are: I never liked the bank stocks in the first place and Bill seems sad.
Probably in reverse order.