Fund Lessons From Bill Gross
NEW YORK (TheStreet) -- Recognized throughout the financial world as the "Bond King," Bill Gross has made a name for himself being arguably the greatest bond manager of all time. Today, as founder and chief operating officer of Pimco, Gross, along with fellow financial icon Mohamed El-Erian, runs what has become the world's largest fixed-income management firm.
Aside from overseeing the internal affairs at Pimco, Gross personally manages the company's successful flagship mutual fund, the Pimco Total Return Bond Fund (PTTRX).
Since he started PTTRX, this instrument has grown to become the largest bond fund in the nation. Pimco Total Return is also the only bond fund in the country listed among the five largest mutual funds. With this success, some could say Gross is the Peter Lynch of the bond world.
Bill Gross, a Ohio native, received an undergraduate degree in psychology in 1966 from Duke University. It was at Duke that, while studying for his bachelors, a car accident led him to his first love: gambling.During his recovery, he became fascinated and obsessed with the game of black jack. This interest drove him to spend a summer in Las Vegas upon graduation. By playing the tables in Sin City, he was able to turn $200 into $10,000. After serving a serving for term in Vietnam, Gross used his Vegas winnings to pursue a business degree at UCLA. Today, the lessons Gross learned while at the black jack table -- the importance of odds, patience and emotions -- continue to influence his business decisions as the head of Pimco.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV