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Hoping To Get Rich? Bill Gross Has Some Bad News For You

Tyler Durden's picture


If you want to get rich - either quickly or slowly - the Bond King (whose TRF lost a record $40+ billion in AUM last year) has some bad news: it ain't happening.

There was no comment from Bill on what the future holds for those who may or may not want to get poor quickly (or slowly).


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Sun, 01/12/2014 - 12:07 | 4324631 FOC 1183
FOC 1183's picture

What about getting rich carefully?

Sun, 01/12/2014 - 12:10 | 4324635 Leonardo Fibonacci2
Leonardo Fibonacci2's picture

Ask Lyodd Blankfein, Jamie Dimon, Ben Bernanke, Hank Paulson, etc......  maybe they have another view and advice

Sun, 01/12/2014 - 12:30 | 4324668 Yes We Can. But...
Yes We Can. But Lets Not.'s picture

Give Lexapro a try, Bill.

Sun, 01/12/2014 - 13:09 | 4324753 Popo
Popo's picture

It's always a good market for one half of the trade.   The question is:  When is it (finally) going to be time to go short again?

Sun, 01/12/2014 - 15:18 | 4325032 MedTechEntrepreneur
MedTechEntrepreneur's picture

The opportunity cost of 20 somethings and 30 somethings being forced to pay 200-300/mo into Obamacare is devastating. Figure the loss of savings and investments (or even lost consumption) over their productive years and it is a huge number.

Sun, 01/12/2014 - 16:37 | 4325193 markmotive
markmotive's picture

Most of you will always be poor. They system is built like that. Any attempt to re-distribute wealth would be counter productive. Just ask the Soviets.

Mon, 01/13/2014 - 10:10 | 4326935 TheReplacement
TheReplacement's picture

Human nature is like that.  You will NEVER devise a system that is going to give equal results to all.  Stop sounding like it is even possible.

The only thing we have to argue about is the fairness of the system where the top gets to decide winners and losers based on whim versus the market picking based on merit (we agree).

Sun, 01/12/2014 - 12:55 | 4324714 moneybots
moneybots's picture

"Ask Lyodd Blankfein, Jamie Dimon, Ben Bernanke, Hank Paulson, etc......  maybe they have another view and advice"


They are already rich.  Gross was taliking about getting rich.

Sun, 01/12/2014 - 13:49 | 4324835 A Nanny Moose
A Nanny Moose's picture

Being born into money is the quickest way of them all. Their kids have it made, yet are simultaneously screwed by their wealth.

Sun, 01/12/2014 - 12:28 | 4324663 Eireann go Brach
Eireann go Brach's picture

Fuck you Skeletor! I had to dump your fund from my 401k as it was the worst performing by a long way! So being part of your company right now will mean no one will ever get rich!

Sun, 01/12/2014 - 12:51 | 4324708 Skateboarder
Skateboarder's picture

My boss (owner of small business that cares very much for its <10 employees) tells us once or twice a year to sign up for the non-taxed IRA, for which the company matches up to $1500 a year. A 1oz maple is worth more for my 'retirement' (lololo what a quaint concept) imo. I really find it obscene that all these retirement accounts and yada will get wiped out, and the people banking on seeing that money will never see it. :(

Sun, 01/12/2014 - 12:57 | 4324718 moneybots
moneybots's picture

"it obscene that all these retirement accounts and yada will get wiped out, and the people banking on seeing that money will never see it."


And how much might the windfall tax on your Maple be when you take it out and use it?

Sun, 01/12/2014 - 13:02 | 4324734 Winston Churchill
Winston Churchill's picture

You mean Mad Max's tax.

If you think anyone will still be working for .gov after the coming shitstorm I've

got a 401k in New York  for sale if your interested.

Sun, 01/12/2014 - 13:10 | 4324757 Skateboarder
Skateboarder's picture

I will only let go in dire need or desperation. When that time comes, I don't think I will care. Better to have something physical in my possession than digital fantasybux.

I think skateboards are wealth too - might as well start stacking decks and trucks and wheels and bearings (DCRB, represent). If you've never seen one used as a weapon, it's incredible. A friend of mine (R.I.P., bless his soul) once hit a sketchy Mexican dude on the head with a board when he was sold fake weed. He got expelled from school and shit (it happened in school), but the event was legendary and taught/reminded everyone that skateboards and skateboarders aren't something to fuck with.

Sun, 01/12/2014 - 14:56 | 4324989 max2205
max2205's picture

Compound interest doesn't do much below 3%

Sun, 01/12/2014 - 16:41 | 4325202 U4 eee aaa
U4 eee aaa's picture

Not true. It compounds your problems

Sun, 01/12/2014 - 14:27 | 4324907 RafterManFMJ
RafterManFMJ's picture

Ah yes, that dreaded Hobgoblin, the windfall tax...

"You had the foresight and balls to evade the Empire's theft of your labor and it's destruction of your currency, so now we will just simply steal from you out right..."

No, I think not. In fact, I'm afraid I'm going to have to say absolutely not...

Sun, 01/12/2014 - 12:08 | 4324632 NoDebt
NoDebt's picture

What about theft?  Theft still works, right?

Sun, 01/12/2014 - 12:33 | 4324673 Yes We Can. But...
Yes We Can. But Lets Not.'s picture

Are you in The Club?

Sun, 01/12/2014 - 12:44 | 4324700 Skateboarder
Skateboarder's picture

Clubs are for pampered high-lifers who will drop a G on bottle service. He's obviously in The Bar.

Mon, 01/13/2014 - 02:20 | 4326534 NickVegas
NickVegas's picture

Que up fifty.

Sun, 01/12/2014 - 12:38 | 4324684 Colonel Klink
Colonel Klink's picture

Only if you're in the "club".  If not, then you get prosecuted by Eric "the dick" Holder or his henchmen, and sent off to prison.

Sun, 01/12/2014 - 13:07 | 4324749 Gohn Galt
Gohn Galt's picture

Just don't cause attention or rock the boat and you can steal all you want.  You only have to fight with own moral code (if you have one).  Agencies like the FBI have official changed their focus from law enforcement to national security.  So have fun storming the castle.

Sun, 01/12/2014 - 15:33 | 4325066 Greshams Law
Greshams Law's picture

As you wish.

Sun, 01/12/2014 - 12:11 | 4324637 thunderchief
thunderchief's picture

I like the picture of them.  The caption should read, "tough shit succers, we're already there."

Sun, 01/12/2014 - 12:14 | 4324640 aleph0
aleph0's picture

What's "rich" these days ? .. the Theft via Cronyism !

Sun, 01/12/2014 - 12:15 | 4324641 ZeroPoint
ZeroPoint's picture

We'll see who's still standing after the dollar collapse. People who are holding real wealth will be....wealthy.

Sun, 01/12/2014 - 12:17 | 4324645 IridiumRebel
IridiumRebel's picture

I am trying to remove myself from "the system" as much as possible. My richness will come from more time with my family. Be simple. Repudiate the rat race. My compost pile is almost ready, garden begins in a month and a half. Starve the Beast.

Sun, 01/12/2014 - 12:39 | 4324687 GotNuttin'todo
GotNuttin&#039;todo's picture

Agree. Anyone with any gonads will get off the grid.

Sun, 01/12/2014 - 13:22 | 4324781 Yancey Ward
Yancey Ward's picture

You should have read the report.  Gonads are confiscated as the first step of the debt stabilization plan.

Sun, 01/12/2014 - 13:28 | 4324790 IridiumRebel
IridiumRebel's picture

...and then everyone would go nuts!


i'll be here all week...tip your debt slave.

Sun, 01/12/2014 - 14:05 | 4324869 CH1
CH1's picture

Starve the Beast.

Yes! Starve the Beast!

Sun, 01/12/2014 - 19:37 | 4325613 yrbmegr
yrbmegr's picture

It used to be that the "victory garden" was commonplace.  We seem to be reverting to some of those old practices from a less prosperous past.

Sun, 01/12/2014 - 12:18 | 4324647 Dasa Slooofoot
Dasa Slooofoot's picture

Oh, idk about that.  Maybe for cronies, but chaos can surely remove some of the barriers that keep the rich afloat and the ceilings that keep hard working, innovative people bottled up.   

Sun, 01/12/2014 - 12:19 | 4324649 666
666's picture

I'm rich already: I own silver and gold, have no debt, and have a clean conscious.

Sun, 01/12/2014 - 12:27 | 4324665 lordbyroniv
lordbyroniv's picture

What Gross is basically saying is that we are all traveling on the Road to Serfdom.   :(


Fucking Mother Fuckers !!!!...




Count me..........out.


IN !!!!!!!!!!!!!11111

Sun, 01/12/2014 - 13:00 | 4324730 moneybots
moneybots's picture



Ask the Greeks.  Ask the Spaniards.  Ask the Italians.

Sun, 01/12/2014 - 14:31 | 4324917 RafterManFMJ
RafterManFMJ's picture

The Bastille is clear over in England, dumbass.

Sun, 01/12/2014 - 18:19 | 4325419 geoffb
geoffb's picture

Technically France, but I believe he was speaking metaphorically.

Sun, 01/12/2014 - 14:08 | 4324873 CH1
CH1's picture

What Gross is basically saying is that we are all traveling on the Road to Serfdom.

Yes, and there is no exit for those who keep obeying.

Sun, 01/12/2014 - 12:30 | 4324669 the grateful un...
the grateful unemployed's picture

there's a distinction between cash and capital, when the banks were undercapitalized after the 2008 crash, the Fed came in with cash. capital is assets, and all the phony collateral in the world won't generate capital. liquidity in notional fiat currency is not investment, though it has a way of draining off assets when the money supply begins to exceed the amount of capital, or collateral behind it. deflation has a way of creating real wealth, (wealth in the 1800s was land, cattle and gold) the government policy of the last hundred years has been to direct land ownership away from individuals and into corporations, who see their wealth depleted by stock issuance, cattle no longer matter, its a vegan world, but gold still counts and its personal and portable, and although government can effectively prevent land ownership, they will never be able to take your gold again. buy gold bitchez

Sun, 01/12/2014 - 13:07 | 4324748 Marco
Marco's picture

Gold is money, it can only generate rent in a growing economy ... land generates rent regardless. Land was wealth, land is wealth, land will always be wealth ... it's just that you need to own government before you can own land, which brings us to the current course of events.

Sun, 01/12/2014 - 13:35 | 4324802 fijisailor
fijisailor's picture

You don't own your land unless you have some in a property tax free jusrisdiction like the Cayman Islands.

Sun, 01/12/2014 - 14:12 | 4324880 The Navigator
The Navigator's picture

in a property tax free jusrisdiction like the Cayman Islands.

I believe FIJI is also property-tax-free.

Sun, 01/12/2014 - 14:17 | 4324894 fijisailor
fijisailor's picture

The cities (the're all small ones) are charging property tax now.  Not yet in the countryside and outer islands.

Sun, 01/12/2014 - 14:58 | 4324998 max2205
max2205's picture

Property taxes compounded at 7 to 10% per year will make most broke before you can collect SSI


Maybe thats the plan?

Sun, 01/12/2014 - 12:39 | 4324675 joego1
joego1's picture

I find that the more money I have there is more time defending it. Go for the happiness derivatives.

Sun, 01/12/2014 - 15:38 | 4325074 Greshams Law
Greshams Law's picture

Beer and blowjobs?

Sun, 01/12/2014 - 12:37 | 4324680 GotNuttin'todo
GotNuttin&#039;todo's picture

You would think these big shot CEO's would have something original to say.

Sun, 01/12/2014 - 12:39 | 4324686 fijisailor
fijisailor's picture

Translation:  Any money you have in paper assets will be lost or confiscated.

Sun, 01/12/2014 - 12:43 | 4324697 CPL
CPL's picture

Depends on your definition of wealth.

Sun, 01/12/2014 - 13:33 | 4324801 Skateboarder
Skateboarder's picture

0) Sanity.
1) Family and friends.
2) Food and water.
3) Tents and sleeping bags, backpacks, camping and survival gear,
4) Tools (no, not the bipedal kind as used in the modern rendition of the word).
5) Books.
6) Musical instruments.
7) Bicycles and skateboards.
8) Stuff of vice and indulgement (tobacco, pot, liquor, etc.)
9) PMs.

Sun, 01/12/2014 - 12:44 | 4324698 I am Jobe
I am Jobe's picture

Donlt worry the Tribe Members circle is complete with Stanley Fisher. Forward Amerika, you are Israels bitch no matter what. 

Sun, 01/12/2014 - 12:48 | 4324705 giggler321
giggler321's picture

You lie sir, I saw on FOX can flip house for quick million as they always rise in value

Sun, 01/12/2014 - 12:49 | 4324706 Colonel Klink
Colonel Klink's picture

Anyone else wish Bill would just shut his tweet hole, just like iCON?

Sun, 01/12/2014 - 12:56 | 4324717 garypaul
garypaul's picture

Yeah, this article is bullshit

Sun, 01/12/2014 - 14:43 | 4324953 StandardDeviant
StandardDeviant's picture

Yes; Bill and everyone else on bloody Twitter.  Why does it exist?

Sun, 01/12/2014 - 19:27 | 4325589 Colonel Klink
Colonel Klink's picture

For the narcissists who think everyone is hanging on their every tweet.  And the wannabes who think if they follow their famous ass of the day, they'll be just like them.

Sun, 01/12/2014 - 22:31 | 4326087 ZH11
ZH11's picture
Sun, 01/12/2014 - 12:55 | 4324712 JustObserving
JustObserving's picture

You can always make billions by hiring Bernanke as you did by hiring Greenspan, Bill.  Who says crime does not pay in the land of the free?

Alan Greenspan, the former Federal Reserve chairman, has helped Pacific Investment Management Co. make ``billions of dollars'' in his role as a consultant, said Bill Gross, the bond manager's co-chief investment officer.


Sun, 01/12/2014 - 13:19 | 4324776 whidbey-2
whidbey-2's picture

Crime pays very well. It is a legit business in many cases, and all you belly achers should get serious, and look for government contracts. A friend of mine was a sub contrator on the Obama health web site setup.  He went to one prebid briefing, knew it had to fail just from the quality of the briefing, so he underbid on a contract and asked for an advance so he could get going. The contractor was more than willing to get someone started and advanced a cool million.  The Oregon site failed before his contract arrived but he was paid his advance, then hired to do a review of what he was not able to complete and why and write a report.  Overall the payments were over 3mil and he is bidding on a follow-on piece of work and gets paid for preparing a bid since he is "experienced on the project".  That is criminality and it pays very well and he made no or little taxable income once he hired a staff, purchased a car and a building to work from.  This man will do well because he knows when and what to bid for.

Sun, 01/12/2014 - 22:39 | 4326110 ZH11
ZH11's picture

The attitude of 'devil take the hindmost' may work for a while but what of it?

The selfish, self justifying attitude towards fraud and misanthropic enrichment are the seeds of the end.

Seems odd in a nation that's always asking God for approval and guidance such rampant immorality and lack of ethics now is the rule of all business transactions.

Sun, 01/12/2014 - 13:35 | 4324803 icanhasbailout
icanhasbailout's picture

I have real friends and am thus rich in ways the bankerpigs will never know.

Sun, 01/12/2014 - 13:49 | 4324836 nanpanman
nanpanman's picture

PSA: You are slaves. Beatings will continue until morale improves.

Sun, 01/12/2014 - 13:50 | 4324837 Skiprrrdog
Skiprrrdog's picture

Sounds like someone needs a hug...

Sun, 01/12/2014 - 13:55 | 4324852 RaceToTheBottom
RaceToTheBottom's picture


"Get yourself mentally ready to be a peon, cause you already are."

Sun, 01/12/2014 - 14:15 | 4324886 CH1
CH1's picture

The average working guy/gal is morally superior to the average politician.

If ever Joe Average figures that out, the system that enslaves him will crumble.

Sun, 01/12/2014 - 14:01 | 4324863 Max Cynical
Max Cynical's picture

I see he's full of sunshine today...must be off his anti-depressants.

Meanwhile, he's perfectly content to suck 2-3% in fees until the muppets figure out it's just one big casino.

Sun, 01/12/2014 - 14:32 | 4324919 Oquities
Oquities's picture

you can still do it.  my daughter/soninlaw are teacher/ biz owner, and they'll be millionaires by age 50.  not bill gross rich, tho.

Sun, 01/12/2014 - 14:49 | 4324971 Bunga Bunga
Bunga Bunga's picture

I doubt that Gross hasn't heard of Bitcoin.

Sun, 01/12/2014 - 15:05 | 4325012 disabledvet
disabledvet's picture

REALLY? I remember cranking the song up full bore when the LA riots broke out actually...

Sun, 01/12/2014 - 15:08 | 4325016 Sufiy
Sufiy's picture

Peter Schiff: Gold & Dollar - An Imaginary Recovery Does Not Create Real Jobs

 Huge miss in Jobs numbers with only 74k created vs estimated well north of 200k can not be just dismissed as a blip in the data. Peter Schiff discusses that FED can not really Taper now, there is no real recovery and FED does not have the exit strategy. Gold is waking up to these developments. What if this data is the real state of the economy? Once people will realise how wrong is the expectation about the recovery Gold will go straight up. COMEX data shows that Gold shorts will be in trouble very soon.

Sun, 01/12/2014 - 15:11 | 4325017 Motorhead
Motorhead's picture

Hmmm, almost sounds contrarian.  I say there's opportunity out there.  But let me call my Uncle Jamie first, just to make sure, as I hear that his little company is long gold.

Sun, 01/12/2014 - 16:07 | 4325132 vulcanraven
vulcanraven's picture

Sounds like Bill got burned on TWTR stocks

Sun, 01/12/2014 - 16:38 | 4325196 mrdenis
mrdenis's picture

I've put my entire 401K on SD to win it all @ 30 to 1 .......I'm rich 

Sun, 01/12/2014 - 17:22 | 4325296 css1971
css1971's picture

Hoping to get rich? Actually... No. It isn't one of my life goals, and I feel sorry for anyone for whom it is.

Why I'm here is to prevent wankers in positions of power from appropriating 7% of my wealth and effort over and above what I am taxed on every year.

Sun, 01/12/2014 - 17:47 | 4325344 JohnFrodo
JohnFrodo's picture

Thats the overall review from Market Pros on The Wolf of Wall St.

Another strong opinion is if he had not been so impatient he would be a billionare hedge fund person right now.  I want to give up one of those Don King only in America cheers.

Sun, 01/12/2014 - 20:22 | 4325734 XitSam
XitSam's picture

Within 6 years I'm going to be a trillionaire, yes a trillionaire. And you can, too!

Sun, 01/12/2014 - 21:00 | 4325850 polak potrafi
polak potrafi's picture

poprzec RoBEN Hood'a

(and frau Jelen)



that a country

that has its own food,

energy and lots of wealth

can't print money

to meet

its social security obligations


the flower power generation...


Sun, 01/12/2014 - 22:27 | 4326079 ZH11
ZH11's picture

Bill 'completely' Gross.

A billionaire lamenting the little guy's lot, fuck off, you're as transparent as glass.

Another one who I look forward to seeing fail in the coming year and hopefully being disembowelled when the revolution comes in the US.

Sun, 01/12/2014 - 23:38 | 4326258 Decimus Lunius ...
Decimus Lunius Luvenalis's picture

See, the thing is, as some Frenchmen realized a little over 300 years ago, is that when there is truly a wealth ceiling, it doesn't take much for the poorly paid police state that you hide behind to realize that risking their lives in protecting you isn't worth fighting off the mob that aiming to behead you and your family.  The sad and simple truth is that his wealth and wealth in general in dependent upon a state monopoly on violence which is paid for by the more wealthy areas.  If there is a concerted violent effort against the rich, do you think that a cop making $30k or National Guardsmen making $20k is going to put down a violent mob to protect some douche billionaire that made billions making bets with other people's money on a wholly arbitrary market?  

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