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Bill Gross Quits PIMCO, Which He Co-Founded, Joining Janus

Tyler Durden's picture




 

After co-founding PIMCO in 1971, Bill Gross has called it quits...

  • *WILLIAM H. GROSS JOINS JANUS CAPITAL
  • *JANUS:GROSS TO START MANAGING FUND,RELATED STRATEGIES OCT.6,'14

“I look forward to returning my full focus to the fixed income markets and investing, giving up many of the complexities that go with managing a large, complicated organization,” said Mr. Gross.

 

Janus stock is +20% on the news. 40% now!)

 

and PIMCO's parent Allianz is tumbling (dragging the DAX red)

 

and has crashed DAX

 

*  *  *

Gross co-founded PIMCO in 1971...

 

*  *  *

Full Statement:

William H. Gross Joins Janus Capital

Janus Capital Group Inc. (NYSE: JNS) today announced that William H. Gross, world-renowned fixed income investor, will be joining Janus Capital Group. He will manage a recently launched Janus Global Unconstrained Bond Fund and related strategies, and will join Myron Scholes, Ph.D., and other members of the Janus team focused on global asset allocation. Mr. Gross’ employment will be effective September 29, 2014 and he will begin managing the Janus Global Unconstrained Bond Fund and related strategies effective October 6, 2014.

Mr. Gross will be based in a new Janus office to be established in Newport Beach, California and will be responsible for building-out the firm’s efforts in global macro fixed income strategies. His concentration on such strategies will be separate and complementary to Janus’ existing and highly successful credit-based fixed income platform, built under the leadership of Janus’ Fixed Income Chief Investment Officer, Gibson Smith.

“Bill Gross has an exemplary track record with decades of success and he will offer an exceptional approach to navigating today’s increasingly risky markets with a focus on macro, unconstrained strategies. His involvement provides Janus a unique opportunity to offer strategies and products that are highly complementary to those already managed by our credit-based fixed income team,” said Richard M. Weil, Chief Executive Officer of Janus Capital Group. “With Bill leading our global macro efforts and Gibson our credit-based fixed income team, I am confident Janus will be able to meet the needs of virtually any client.”

“I look forward to returning my full focus to the fixed income markets and investing, giving up many of the complexities that go with managing a large, complicated organization,” said Mr. Gross. “I chose Janus as my next home because of my long standing relationship with and respect for CEO Dick Weil and my desire to get back to spending the bulk of my day managing client assets. I look forward to a mutually supportive partnership with Fixed Income CIO Gibson Smith and his team; they have delivered excellent results across their strategies, which deserve more attention.”

*  *  *

Attributable to Dick Weil, Janus Chief Executive Officer

We are extremely proud to welcome Bill Gross, an investment industry icon, to Janus. His  arrival at Janus will provide the firm with a very unique opportunity to offer global macro fixed income strategies and products that are highly complementary to the very successful credit-driven fixed income franchise that we have built out over the last decade under the leadership of Gibson Smith. In fact, we are pleased that investors will have immediate access to Bill’s expertise as he takes the reigns of the recently launched Janus Global Unconstrained Bond Fund. Additionally, as we continue to address the needs of our clients, Bill will join Nobel Laureate Myron Scholes, Ph.D., Ashwin Alankar, Ph.D., and other members of the Janus team focused on the expansion of our global asset allocation business.  Today’s announcement is another major step forward in our efforts to attract the most sophisticated and proven talent in order to meet the real and evolving needs of our clients.

*  *  *

Bill Gross Statement:

"For most of my career, I have been privileged to be associated with one of the most successful investment management firms ever -- Pacific Investment Management Company (PIMCO). Today, with a mixture of excitement and sadness, I am announcing that I have decided to join Janus Capital Group and end my association with PIMCO. It was not without great thought and deliberation over quite some time that I decided to begin this next chapter. During my time at PIMCO we accomplished a great deal, managing now over 2 trillion dollars of global assets with a track record of very significant value added that has generated tens of billions of dollars to individual, corporate, and sovereign client portfolios. But now, after having spent considerable time serving in senior management, it is a time for me to reduce executive and people management responsibilities at a larger firm and focus on the pure aspects of portfolio management at a smaller one. Janus is the right fit at the right time in my career - and my life.

 

I am honored to be welcomed by Janus Capital Group, which is headed by former PIMCO managing director/COO Dick Weil. At Janus, in a new Newport Beach office, a simpler yet still intense career lies ahead of me to be able to assist individuals and other investors in their needs for above market returns in an increasingly risky market environment. In particular, I greatly respect the fixed income investment philosophy of Janus, which is consistent with my belief: value added consistent with the protection of principal.

 

I have been fortunate to have had a great run at PIMCO, and I am looking forward to be able to continue this run with Janus.

 

I sincerely wish all of my friends and associates at PIMCO much future success. It has been an honor to have worked at PIMCO these many years."

*  *  *

Let's hope Gross' timing is not this bad...

 

*  *  *

How long before El-Erian is back as CEO?

 

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Fri, 09/26/2014 - 08:37 | 5259208 SloMoe
SloMoe's picture

Pimco? Rats? Ship?

Fri, 09/26/2014 - 08:38 | 5259209 wallstreetapost...
wallstreetaposteriori's picture

PIMCO is done for.....  

Fri, 09/26/2014 - 08:45 | 5259231 onewayticket2
onewayticket2's picture

is this the onion?

Fri, 09/26/2014 - 08:46 | 5259236 Silky Johnson
Silky Johnson's picture

Well that was quick, I guess it goes to show who was really running that fucking ship.

Fri, 09/26/2014 - 08:51 | 5259249 Divided States ...
Divided States of America's picture

Another liquidation event today in the markets (bonds, this time)???

Cant wait for the headline "Larry Muthafuckin Fink 'quits' Blackrock"

Fri, 09/26/2014 - 08:51 | 5259258 wallstreetapost...
wallstreetaposteriori's picture

El-erian is totally going back to PIMCO in a few months.....  This plan was launched a long time ago with Allianz when they had their spat.

Fri, 09/26/2014 - 08:59 | 5259284 He_Who Carried ...
He_Who Carried The Sun's picture

Away with that clueless looooooooooooooser Gross.

Fri, 09/26/2014 - 09:42 | 5259398 hedgeless_horseman
hedgeless_horseman's picture

 

 

Too bad Gross couldn't execute a fantastic big-money, no-lose, free-look-back exit strategy like Bailey received for Janus from KSU. 

Still NMFP Tom?

Fri, 09/26/2014 - 09:54 | 5259449 americhinaman
americhinaman's picture

anyone have any info on how much "keyman" liquidation risk PIMCO is facing, and which funds that's in?  that in addition to the regular redemption requests... could really move various bond markets.

Fri, 09/26/2014 - 10:16 | 5259504 Yes We Can. But...
Yes We Can. But Lets Not.'s picture

Seems odd. It is as if New York Yankee Derek Jeter announced that rather than retire he'll be joining the Minnesota Twins AA club, the New Britain Rock Cats. 

Why not retire?

Fri, 09/26/2014 - 10:34 | 5259542 rccalhoun
rccalhoun's picture

he didn't inside trade his own resignation????????????????????

Fri, 09/26/2014 - 14:26 | 5260551 Mountainview
Mountainview's picture

Gross looks tiered...isn't this a sort of final golden handshake in a semi-retirement? Why this half step?

Fri, 09/26/2014 - 11:45 | 5259790 tongue.stan
tongue.stan's picture

He should just go back to his real roots, counting cards in vegas.

You're never too old for blow and hookers, I hear.

Fri, 09/26/2014 - 11:54 | 5259819 The Big Ching-aso
The Big Ching-aso's picture

I think Larry Summers would be perfect for the job. Fat opportunities like this to refloat a sinking ship come around only once in a blue moon.

Fri, 09/26/2014 - 09:00 | 5259285 ParkAveFlasher
ParkAveFlasher's picture

I'm more concerned with where Gross' hair is going.  (Sold my Pimpco stuff a long time ago).

Fri, 09/26/2014 - 09:28 | 5259365 aVileRat
aVileRat's picture

I suspect not monitoring his M2M's that would have perma-broke the Pimco brand in the eyes of the pensioners who need that income was the final straw.

Enjoy the resurrection story-arc Bill. In the end, you were right on the front-end trade; only about 7 months too soon.

 

Fri, 09/26/2014 - 09:07 | 5259307 Bangin7GramRocks
Bangin7GramRocks's picture

Not him! I saw a story that said that while he was working long hours impoverishing the world and stealing from the United States government, he missed many milestones with his daughter. He felt so badly that he waited until Pimpco was ready die and then retired to spend more time with his daughter; his 5 jets, 3 yachts, 6 houses and 100 underpaid staff. Good on him!

Fri, 09/26/2014 - 09:20 | 5259343 ajax
ajax's picture

 

 

"He (Gross) will manage a recently launched Janus Global Unconstrained Bond Fund and related strategies, and will join Myron Scholes, Ph.D., and other members of the Janus team focused on global asset allocation."

Sure why not?? More of Sweden's Nobel Ironists - only not Peace but Economics.

Who can forget Myron Scholes and Robert Merton's spectacularly successful Long Term Capital Mgnt.??

http://www.capital-flow-analysis.com/investment-essays/nobel_gods3.html

 

 

Fri, 09/26/2014 - 08:46 | 5259241 GetZeeGold
GetZeeGold's picture

 

 

In other news....Eric Holder is out of PIMCO.

Fri, 09/26/2014 - 09:52 | 5259447 eclectic syncretist
eclectic syncretist's picture

Sonofabitch!!  Must be time to re-evaluate bonds.  This gross mf is now Just Another Needle-dicked Usurous Shithead.  Here is some footage of him from a few years back right after the 2008 crash.

https://www.youtube.com/watch?v=wftuosM4KIk

Fri, 09/26/2014 - 08:50 | 5259255 Stoploss
Stoploss's picture

Don't you know the beginning of the death of the FED when you see it?

Somebody else quit first...

Fri, 09/26/2014 - 08:46 | 5259232 Aknownymouse
Aknownymouse's picture

So is PIMCO going to liquidate?

Fri, 09/26/2014 - 10:31 | 5259535 Stoploss
Stoploss's picture

That would require liquidity in the market, which does not exist, so, no.

Fri, 09/26/2014 - 08:54 | 5259268 zjxn06
zjxn06's picture

Not good when the captain jumps.

Fri, 09/26/2014 - 11:15 | 5259680 junction
junction's picture

Time for Obummer to announce a new ISIS threat.  He hates it when someone steals the limelight from him, as Gross has just done.

Fri, 09/26/2014 - 08:39 | 5259213 Gen.Ackbar
Gen.Ackbar's picture

You know its not great timing to jump ship when "SEC Probe intensifies at PIMCO" is still a major headline

Fri, 09/26/2014 - 08:41 | 5259215 Dr. Engali
Dr. Engali's picture

Quits....Lol..... that's what they call it these days. Back in the day it used to be called forced out.

Fri, 09/26/2014 - 08:40 | 5259217 DavidC
DavidC's picture

Have we just seen the top?

DavidC

Fri, 09/26/2014 - 08:41 | 5259219 Seasmoke
Seasmoke's picture

Are we all kidding ourselves ???? This cat would never leave Pimcio if this whole thing isnt fucked up !!!

Fri, 09/26/2014 - 08:41 | 5259222 TabakLover
TabakLover's picture

As is usually the way with self-percieved demi-gods.

Fri, 09/26/2014 - 08:44 | 5259229 lordbyroniv
lordbyroniv's picture

BOOOOOOOOOOOOM GOES THE DYNAMITE !

Fri, 09/26/2014 - 08:45 | 5259230 Bahamas
Bahamas's picture

Going from Pimp.Co right in the J.anus

Fri, 09/26/2014 - 08:46 | 5259233 sbenard
sbenard's picture

Wow! His name was synonymous with PIMCO!

Fri, 09/26/2014 - 08:48 | 5259243 GetZeeGold
GetZeeGold's picture

 

 

Yeah.....was.....whatever.

Fri, 09/26/2014 - 08:45 | 5259234 LawsofPhysics
LawsofPhysics's picture

The Fed must be appyling some pressure.   Bye bye PIMPco....

Fri, 09/26/2014 - 08:51 | 5259260 Dr. Engali
Dr. Engali's picture

Pimco needed to do this in order to save themselves. Will it work? Who knows. In the end we're all fucked anyway.

Fri, 09/26/2014 - 08:55 | 5259270 LawsofPhysics
LawsofPhysics's picture

I think your bond story is appropriate here.  Sell PIMPco, come back later, should they survive.

Fri, 09/26/2014 - 09:01 | 5259286 Dr. Engali
Dr. Engali's picture

I find it interesting that Janus is up and Allianz is down. Everybody I know has been pulling money out of Pimco because they think Gross has lost his mind.

Fri, 09/26/2014 - 09:02 | 5259294 LawsofPhysics
LawsofPhysics's picture

I'd be lying if I didn't say pimpco had been similar to CAT for me.  Up and down, generating profits, for me anyway.  Not so much for those pension funds...

fucking sad what "investing" has become.

Fri, 09/26/2014 - 08:47 | 5259242 cart00ner
cart00ner's picture

Global asset allocation sounds like The transfer of money from poor people in rich countries to rich people in poor countries to me!

Fri, 09/26/2014 - 09:24 | 5259355 ajax
ajax's picture

 

 

"Global asset allocation sounds like The transfer of money from poor people in rich countries to rich people in poor countries to me!"

Spot on cartOOner only you forgot to mention the magic ingredient: LEVERAGE

 

Fri, 09/26/2014 - 08:48 | 5259245 Pee Wee
Pee Wee's picture

It's all just kittens and kandy, right Bill?

Fri, 09/26/2014 - 12:58 | 5260064 ajax
ajax's picture

 

 

People seem to think Gross has lost his mind because he mourned his calico cat 'Bob' in public.

I salute you Bill!

Fri, 09/26/2014 - 14:13 | 5260464 janus
janus's picture

yup...much respect for Mr. Gross.  my primary concern is whether or not we'll still be privy to the monthly letter to investors.  Gross is not only a peerless money manager, he's possessed of an agile and nuanced mind, and he's quite the adept writer.

i didn't know what to make of mohammed's departure back in march and i don't know what to make of this, but i do know that janus (capital) has made a superlative acquisition. 

cheers, Bill.

PS cat people are superior to dog people...it's just a fact.

(the) janus

Fri, 09/26/2014 - 08:51 | 5259256 dirtyfiles
dirtyfiles's picture

Eric Holder yesterday and now this...yea definitely this ship is sinking

Fri, 09/26/2014 - 09:41 | 5259418 yogibear
yogibear's picture

Jump out before it breaks in 2 and sinks.

Fri, 09/26/2014 - 08:50 | 5259257 orangegeek
orangegeek's picture

If Gross quit or was fired, why is he working for someone else?

 

Most "normal billionaires" would start up their own gig, right?

 

 

 

 

Fri, 09/26/2014 - 09:39 | 5259404 Max Cynical
Max Cynical's picture

Agree...

He's 70 years old. A multi-billionaire.

How much is enough?

Fri, 09/26/2014 - 12:26 | 5259922 Frank N. Beans
Frank N. Beans's picture

just 5 years to go and he still wants to work?

Fri, 09/26/2014 - 12:58 | 5260068 ajax
ajax's picture

 

 

Ah yes, the fatidic 75 years ...

Fri, 09/26/2014 - 08:54 | 5259266 Smiley
Smiley's picture

I'm thinking more along the lines of:

"Fuck it, I got mine, later bitches."

Fri, 09/26/2014 - 08:53 | 5259267 mantrid
mantrid's picture

meaning he was sacked from his own company?

Fri, 09/26/2014 - 08:55 | 5259271 GetZeeGold
GetZeeGold's picture

 

 

Possibly a coup......don't really know.

Fri, 09/26/2014 - 08:54 | 5259272 vegas
vegas's picture

Translation: "I'm tired of the bullshit from guys like El-A and since I have already pillaged the funds with horseshit trades, it's time for a fresh start killing money somewhere else." Damn, I was so hoping he would "merge" with Gartman & Stolper.

 

www.traderzoo.mobi

Fri, 09/26/2014 - 08:57 | 5259275 IronShield
IronShield's picture

If I recall correctly, this was one of THE first mofo's with his hand out during bailout time (TARP).  FU Be-otch!  And I hope you lost your @ss in the process.

Fri, 09/26/2014 - 08:59 | 5259276 firstdivision
firstdivision's picture

Now you know what institution was selling.  Gotta liquidate positions before you bail.

Fri, 09/26/2014 - 09:00 | 5259282 Seize Mars
Seize Mars's picture

For fucks sake. Managing a bond portfolio is fucking easy. Believe me, I know.

And, at the same time, these guys all act like geniuses. "I bought these bonds, and they paid me interest. I'm a ggggeeeeenius!"

"Let's see, should we get longer duration, or shorter? Hmm, that's today's decision. Zzzzz..."

Bill Gross is a complete, drooling fucking idiot who couldn't invest his way out of a paper bag. He and the circle of sycophants he's surround himself with can all just keep pretending, right until we're all in FEMA camps.

Fri, 09/26/2014 - 09:04 | 5259301 GetZeeGold
GetZeeGold's picture

 

 

Managing a bond portfolio is fucking easy. Believe me, I know.

 

Believe it or not....we totally believe you....dude.

Fri, 09/26/2014 - 09:12 | 5259304 Ghordius
Ghordius's picture

LOL. second that. but look at that market reaction! you could think he shits a gallion or two of gold dobloons before breakfast

Truly, no sense of proportion

Fri, 09/26/2014 - 09:15 | 5259328 LawsofPhysics
LawsofPhysics's picture

For a "drooling fucking idiot" I like his digs in Corona Del Mar...

Fri, 09/26/2014 - 09:28 | 5259368 Seize Mars
Seize Mars's picture

So, competence is now tied to compensation? Cool.

Fri, 09/26/2014 - 09:35 | 5259393 taketheredpill
taketheredpill's picture

 

Assuming you are a Troll, I respect your genius.

Fri, 09/26/2014 - 09:48 | 5259437 syntaxterror
syntaxterror's picture

Don't forget to add that the corrupt Fed printed trillions manipulating interest rates to zero causing the Genius' bonds to levitate to infinity. Fucking scamholes.

Fri, 09/26/2014 - 09:02 | 5259292 Wahooo
Wahooo's picture

"Fuck it, I quit."

Fri, 09/26/2014 - 09:04 | 5259300 Cacete de Ouro
Cacete de Ouro's picture

Looks like GROSS got screwed in the J-ANUS

Fri, 09/26/2014 - 09:04 | 5259302 taketheredpill
taketheredpill's picture

 

Gross will make a killing.  Assuming he took down a significant chunk of equity at a very cheap valuation, how much of PIMCO's $2 Trillion will follow him?  10%?  5%??  So assume Janus AUM willl potentially double within the next 5 years based on assets following Gross,  Add in new clients attracted to the name....

Fri, 09/26/2014 - 09:04 | 5259303 eddiebe
eddiebe's picture

That's what happens when you fight the Fed.

Fri, 09/26/2014 - 09:16 | 5259333 buzzsaw99
buzzsaw99's picture

yep. "they" have been digging up dirt on him for awhile.

Fri, 09/26/2014 - 09:08 | 5259308 Catullus
Catullus's picture

Wow. The bond market is set to blow.

Bill wants the other side of the trade now.  There's just not enough liquidity.

Fri, 09/26/2014 - 09:23 | 5259352 homiegot
homiegot's picture

I excreted some liquidity this morning. Muchos.

Fri, 09/26/2014 - 09:56 | 5259448 Wild Theories
Wild Theories's picture

Agree he wants the other side of that trade.

I'm guessing(pure speculation) he can't dump passengers and refit a 40yr ship for a completely different purpose, and of course there is dissent, so better he jump instead.

 

and I was just thinking this the other day, guess it's now official, pension funds are fucked, the bond market is a pimp's(speculator) market now, and will be for the forseeable future.

Fri, 09/26/2014 - 09:13 | 5259327 taketheredpill
taketheredpill's picture

 

Stock should double.  How much equity do you tink Gross got?

 

Bet he makes as much off this as he made ($200 MM) off PImco sale to Allianz.

 

Well played Sir.

 

 

Fri, 09/26/2014 - 09:16 | 5259335 taketheredpill
taketheredpill's picture

 

Gross wrote a great article right after he sold Pimco about all these relatives he had never heard of popping up to contact him to congratulate him on making $200 MM.

 

And his track record was excellent before the Fed turned the markets off.

 

 

Fri, 09/26/2014 - 09:16 | 5259337 buzzsaw99
buzzsaw99's picture

without the fed having his back gross is nothing

Fri, 09/26/2014 - 09:46 | 5259430 syntaxterror
syntaxterror's picture

that's true for the entire 1% 

Fri, 09/26/2014 - 09:20 | 5259345 the not so migh...
the not so mighty maximiza's picture

hopefuuly he gets hit by a bus and his guts get spread accross the street

Fri, 09/26/2014 - 09:20 | 5259346 homiegot
homiegot's picture

I've got a silver dollar and a newsletter to show you how confident I am....

 

Bagholders!

Fri, 09/26/2014 - 09:21 | 5259349 paint it red ca...
paint it red call it hell's picture

The writing is on the wall. 

Whadda ya gonna do pension funds?????????

Fri, 09/26/2014 - 09:26 | 5259360 asscannon101
asscannon101's picture

Bill Gross will be a giant no matter where he goes and it is not about his market skills or financial acumen- its his hair. With hair like that, there are no limits to what you can do. I bet that fucker can fly.

Fri, 09/26/2014 - 09:31 | 5259380 asscannon101
asscannon101's picture

If he and Donald Trump hooked up and made an ass-baby, just think of what its' hair would look like. Beautiful...

Fri, 09/26/2014 - 09:57 | 5259457 Citxmech
Citxmech's picture

Oh come on man - It's way too early in the morning for a mental image like that.

Fri, 09/26/2014 - 09:31 | 5259376 nah
nah's picture

Lizzard bitchez

Fri, 09/26/2014 - 09:33 | 5259382 Hubbs
Hubbs's picture

What's different about this is Bill Gross can't act like a typical insider and secretly take the money and run. 

 

Fri, 09/26/2014 - 09:32 | 5259383 stant
stant's picture

It called escaping

Fri, 09/26/2014 - 09:34 | 5259386 q99x2
q99x2's picture

Gold down 3 buck. Silver up 6 cent.

Fri, 09/26/2014 - 09:58 | 5259460 Billy Sol Estes
Billy Sol Estes's picture

Certainly that is enough for a glaring headline on Marketwatch:

BREAKING GOLD DOWN $3!!!!!!

Fri, 09/26/2014 - 09:35 | 5259390 CHX
CHX's picture

Bond king jumps ship. Bodes well for the bond market.

Fri, 09/26/2014 - 09:35 | 5259391 Dagny Taggart
Dagny Taggart's picture

Janus always had an eye for special situations lol.

Fri, 09/26/2014 - 09:39 | 5259405 edwardo1
edwardo1's picture

How fitting considering the two faced meaning of "Janus".

Fri, 09/26/2014 - 09:41 | 5259415 ZeroPoint
ZeroPoint's picture

What....The.....F......

 

 

Fri, 09/26/2014 - 09:51 | 5259420 yogibear
yogibear's picture

Watch out when the bond market blows.

Fri, 09/26/2014 - 09:43 | 5259422 Hubbs
Hubbs's picture

What's so genius when you have insider infomation that the FED is going to tank interest rates to zero forever? Of course your bond fund will do well! But now that there's no lower floor for interest rates, you can't make any more money in bonds. He's a one trick pony that has to find a new pasture.

 

Fri, 09/26/2014 - 09:44 | 5259426 syntaxterror
syntaxterror's picture

I would have guessed that Janus stawk woulda crashed 20%.

Fri, 09/26/2014 - 09:49 | 5259438 Billy Sol Estes
Billy Sol Estes's picture

Too funny

Fri, 09/26/2014 - 09:51 | 5259444 TomGa
TomGa's picture

Denninger: 

 

PIMpCO - Was Gross Fired?

"It appears so -- there are reports that his "departure" to move to Janus was not exactly "voluntary."

Who knows.  What is clear, however, is that Gross, to a large degree, made his "name" by being involved in what is arguably the largest and biggest hammer-swinging company in government securities.

In other words it wasn't so much Bill as it was (and is) the firm's leverage over government actions.

It's not hard to win on a bet when you can hammer on the dealer, effectively allowing you to cheat (albeit legally.)  Nonetheless there were allegations that perhaps some game-playing with valuations took place anyway."

 

http://market-ticker.org/akcs-www?post=229446

Fri, 09/26/2014 - 10:42 | 5259563 ajax
ajax's picture

 

 

"You can't fire me I quit"

Fri, 09/26/2014 - 13:21 | 5260188 ajax
ajax's picture

 

 

Holy shit, I was just kidding. Turns out it's true.

Fri, 09/26/2014 - 09:55 | 5259453 Seal
Seal's picture

Goethe - “True genius is knowing when to stop.”

Fri, 09/26/2014 - 09:54 | 5259454 Notsobadwlad
Notsobadwlad's picture

I guess he got tired of being a satanic corporate stooge. Good luck finding a place of peace and sanity in that world Bill.

There is a price for dancing with the devil.

Fri, 09/26/2014 - 09:57 | 5259462 vyeung
vyeung's picture

As they say on wall st., we are all mercenaries. When times up its up and you move along. There must be some real shit happening for him to leave.

Fri, 09/26/2014 - 10:07 | 5259484 crzyhun
crzyhun's picture

Bill Narcissist

Fri, 09/26/2014 - 11:19 | 5259694 OneTinTrooper
OneTinTrooper's picture

Nope.  A regular guy surrounded by a narcissist culture.  Probably the most sane one of the bunch.  That is why they thought he was mental.

Fri, 09/26/2014 - 10:09 | 5259491 free_lunch
free_lunch's picture

Buy stawks while you can.. bullish

Fri, 09/26/2014 - 10:12 | 5259498 jmcadg
jmcadg's picture

Is this like an NFL coach quiting to manage a little league team?

Just asking.

Fri, 09/26/2014 - 10:31 | 5259536 XRAYD
XRAYD's picture

Guess Bill did not do Allianz's bidding, and absorb some the QE Tsunami Draghi wants to unleash!

Fri, 09/26/2014 - 10:42 | 5259569 Z_End
Fri, 09/26/2014 - 11:20 | 5259683 IronShield
IronShield's picture

There is almost no greater joy than making money by shorting these FIN institutions.  Whether GS, JPM, C, WFC, etc...  I get such a rush taking profits on these vultures.  Thank you 1%'ers for investing in these fine institutions; your donations to my beer fund are appreciated.

 

Edit: Fix spelling error because I'm freakish about that.  ;-)

Fri, 09/26/2014 - 11:31 | 5259734 Eahudimac
Eahudimac's picture

This is nuts. Someone like Bill Gross doesn't just leave a multi-billion dollar company that he founded and takes what equates for him a low-level job. Pimco is his baby. More proof that the world we live in is not what it seems.

Fri, 09/26/2014 - 11:36 | 5259761 Gordon_Gekko
Gordon_Gekko's picture

I hope Janus Capital DIES.

Fri, 09/26/2014 - 11:42 | 5259780 jomama
jomama's picture

LOLOLOLOLOLOLOLOLOLOLOL

Fri, 09/26/2014 - 12:49 | 5259974 Eahudimac
Eahudimac's picture

If he brought back the stache, he would get his mojo back.

Fri, 09/26/2014 - 13:30 | 5260228 The Duke of New...
The Duke of New York A No.1's picture

Leaving the company he co-founded ... I'd say Gross knows Pimpco is imploding.

Fri, 09/26/2014 - 15:06 | 5260755 falak pema
falak pema's picture

when the old guard does not believe in the future; or more so; the future does not believe in them, they have to go like El Erian.

Next to go will probably be MM at Yahoo. She is looking dicy with her  business model all based on Ali Baba investment profiteering. 

When the dominoes of WS oligarchy princes starts to fall they will look more and more like Romanov princes of decadent Russia exiled to the Riviera before the Bolshy uprising... 

Tax Inversions is their latest trick to make a nest abroad...Après moi le deluge! 

Fri, 09/26/2014 - 15:31 | 5260865 morongobill
morongobill's picture

Of course he'd stay in Newport Beach, you guys ever drive by his mansion overlooking Corona del mar State Beach?

Fri, 09/26/2014 - 16:25 | 5261052 wossname
wossname's picture

Fkn jews.

 

Fri, 09/26/2014 - 17:28 | 5261261 Fuku Ben
Fuku Ben's picture

Interesting comment considering your picture posted

Fri, 09/26/2014 - 17:00 | 5261181 Fuku Ben
Fuku Ben's picture

So what is the modern day version of the ancient story they're telling?

*Janus the two-faced God
*January -> Janus
*Janus can see the past and the present
*Janus caused the eruption of a volcano during the invasion of Rome when the Sabine's tried to climb the "Capitolian Hill"
*Janus is associated with Jupiter. They were supposedly only closed in a time of peace
*The closing of the gates of the Roman temple dedicated to Janus is tied to the birth of Jesus
*Janus is associated with the opening and closing of gates

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