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).

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.
FOC 1183's picture

What about getting rich carefully?

Leonardo Fibonacci2's picture

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

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?

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.

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.


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).

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.

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.

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!

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. :(

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?

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.

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.

max2205's picture

Compound interest doesn't do much below 3%

U4 eee aaa's picture

Not true. It compounds your problems

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...

NoDebt's picture

What about theft?  Theft still works, right?

Skateboarder's picture

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

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.

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.

thunderchief's picture

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

aleph0's picture

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

ZeroPoint's picture

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

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.

GotNuttin&#039;todo's picture

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

Yancey Ward's picture

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

IridiumRebel's picture

...and then everyone would go nuts!


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

CH1's picture

Starve the Beast.

Yes! Starve the Beast!

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.

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.   

666's picture

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

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

moneybots's picture



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

RafterManFMJ's picture

The Bastille is clear over in England, dumbass.

geoffb's picture

Technically France, but I believe he was speaking metaphorically.

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.

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

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.

fijisailor's picture

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

The Navigator's picture

in a property tax free jusrisdiction like the Cayman Islands.

I believe FIJI is also property-tax-free.

fijisailor's picture

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

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?

joego1's picture

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

GotNuttin&#039;todo's picture

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

fijisailor's picture

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