Pimco’s New Investment Chief Bears Little Resemblance to Bill Gross

Dan Ivascyn, successor to Pimco co-founder Bill Gross as the firm’s investment chief, is overseeing what is characterized in a recent Wall Street Journal article as “a new direction taken by the California money manager as it recovers from the most tumultuous period in its history.” Gross resigned from Pimco in September of 2014 in the wake of much unrest. The article explains, “Hundreds of billions in client money followed Mr. Gross out of Pimco,” but Ivascyn was able to “stop the outflows with a team of managers who oversees more than $1.5 trillion—one of the largest asset pools anywhere […]

Gross, PIMCO Shifting into Equities

Bond giant PIMCO is making a move into equities, including equities in Europe, according to co-Chief Investment Officer Bill Gross. While some European countries face trouble going forward, Gross tells CNBC that “corporate equities … in terms of valuation, are selling at very low P/E ratios and in some cases might be perceived to be almost as safe, or almost as secure as the sovereigns themselves, because of their international exposure and their private nature”.

Gross: Time to Grow Up

In his latest Investment Outlook, PIMCO’s Bill Gross calls on “children of the bull market” to grow up, and goes a bit deeper into the concept of the “new normal” that he’s discussed previously. Gross says that there has been a significant break in the growth pattern that many investors have grown used to over the past several decades “because of delevering, deglobalization, and reregulation. All of those three in combination, to us at PIMCO, means that if you are a child of the bull market, it’s time to grow up and become a chastened adult; it’s time to recognize […]

Gross on Haircuts, Shared Burdens, and those Green Shoots

In his latest Investment Outlook column on bond giant PIMCO’s web site, Bill Gross says that the recent crisis — and the government’s response to it — has changed the financial landscape, and that investors must be cognizant of the new economic and investing world that has been created. President Obama’s comments on the recent bankruptcy announcement of Chrysler, Gross says, have highlighted Obama’s populist streak. And, while he doesn’t seem to be criticizing that stance or Obama’s other economic positions, Gross says they will create consequences that investors need to be aware of. “The rebalancing of wealth from the […]

Gross: Investing “Revolution” Is On

In his April market commentary on PIMCO’s web site, bond guru Bill Gross says that we’ve entered a new world of economics and investing, one in which “there should be no doubt that the bull markets as we’ve known them are over and that the revolution is on. Investing is no longer child’s play.” Gross says that the future of investing will depend on the future of the global economy, and the future global economy “will likely be dominated by delevering, deglobalization, and reregulating. … We do not envision a mean reversion, cyclically oriented future, but instead a new world […]