Bill Gross, the money manager who jumped to Janus Capital Group Inc. in September from the bond giant he co-founded, said he’ll keep trading for the next two to four years to prove he can still beat the market.
“I wanted to show clients and the world, to the extent that they’re interested, that I can continue to produce a track record like I did at Pimco,” Gross said in a Bloomberg Television interview with Trish Regan. “I won’t have as much time, I won’t have five to 10 to 15 years leeway like I had at Pimco to do that, but certainly for the next two, three, four years. I’m a very competitive person and I like to post numbers that are better than the market and better than the competition.”
Gross, 70, left Pacific Investment Management Co., the Newport Beach, California-based company he co-founded in 1971, after losing a power struggle with management. He started running the $1.5 billion Janus Global Unconstrained Bond Fund on Oct. 6. Since then through last week, that fund has been mostly flat, trailing 54 percent of its peers, according to data from Chicago-based research firm Morningstar Inc.
Bill Gross Says He’s Got Up To Four Years To Re-Establish Record
March 2, 2015
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Why do you/we care so much about what Bill Gross says? I thought with his departure from PIMCO that he would go away until he has reestablished himself. Today he is the brain trust for a fund that trails 50% of its peers. He should be accorded the stature that that performance deserves.