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Keyword: billgross

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  • Get email alerts Bond guru Bill Gross says Trump voters will suffer most from election result

    11/16/2016 1:06:27 PM PST · by Ernest_at_the_Beach · 53 replies
    Marketwatch ^ | Nov 16, 2016 12:15 p.m. ET | JosephAdinolfi
    By JosephAdinolfi Markets reporter The angry voters who helped catapult President-elect Donald Trump to victory in last week’s presidential election will bear the brunt of the economic fallout from his policies, says legendary bond investor Bill Gross. Gross said he voted for neither Trump nor his vanquished Democratic rival, Hillary Clinton. In his latest missive to investors, published Wednesday, Gross said the electorate effectively put the fox in charge of the henhouse.
  • Bitcoin Price: Billionaire Bill Gross Prefers BTC Over Central Banking

    10/07/2016 10:21:52 PM PDT · by aquila48 · 6 replies
    bitcoinist ^ | 2016/10/06 | Nick Marinoff
    The bitcoin price hasn’t moved since our last price piece, and $611 remains as the mark where bitcoin makes its present home. However, despite the sideways movement, billionaire Bill Gross seems optimistic. Things haven’t gone great so far. We’re not down on the markets or anything – we’re a little bit up on our Monday balance – but things have been incredibly dull. When we get action like this, all we can do is sit and wait, maybe dabble with an attempt at a fundamental bias for a bit of variety. The thing is, you only really realize it when...
  • Why record low interest rates are a cause for alarm, not celebration

    06/13/2016 1:39:26 PM PDT · by Lorianne · 4 replies
    Telegraph (UK) ^ | 11 June 201 | Jeremy Warner
    UK rates may be at an all time low, but they are even lower elsewhere, particularly on the Continent, where the European Central Bank has been so busy buying up government debt that in Germany and Holland the stock of available bonds has been almost completely exhausted. There is virtually no yield left at all on 10 year German bunds, against which their UK equivalent look positively bountiful. So utterly desperate has this hunger for yield become that there are now an astonishing $10 trillion of government bonds worldwide trading on a negative interest rate. Some corporate borrowers too have...
  • Paying governments $10.4 trillion to take your money is now a political fiasco

    06/10/2016 9:29:38 AM PDT · by Lorianne · 8 replies
    Yahoo Finance ^ | 08 June 2016 | Jared Blikre
    The central bank experiment with negative interest rates—where governments charge you to buy their debt—is reaching a tipping point. Fierce political backlash is emerging against a policy that hurts savers and small businesses, all of which could have ramifications for U.S. markets. The bulk of negative-yielding debt is concentrated in Japan and Europe. Globally, the total is now $10.4 trillion, according to Fitch Ratings. In Japan, where politicians are preparing for the next election cycle, negative rates have become a hotbed issue. The chief policy architect of Japan’s new Democratic Party, Shiori Yamao, just came out publicly against the Bank...
  • Bill Gross: $10 trillion negative yield 'supernova' will 'explode'

    06/10/2016 12:14:17 PM PDT · by BenLurkin · 15 replies
    CNBC ^ | 06/10/2016 | Jeff Cox
    Bond guru Bill Gross believes the growing global move toward negative yields will have dire consequences. In a tweet from his firm, Janus Capital, Gross goes back half a millennium to assert that the current situation with the world's debt market is unprecedented and dangerous: The warning comes as yields on Japanese government bonds and German bunds hit record lows.
  • Bill Gross on CNBC says investors should stay with U.S. Treasuries

    01/25/2016 10:26:30 AM PST · by Citizen Zed · 9 replies
    Reuters ^ | 1-19-2016
    Gross also recommended investors should consider Build America Bonds, which are taxable municipal bonds that carry special tax credits and federal subsidies for either the bond issuer or the bondholder. "There are a lot of closed-end funds that are selling 10-15 percent discounts to net asset values. That means you are buying something at 80-95 cents on the dollar," Gross said. "Some of these closed-end funds deal in, yes, relatively high-quality municipal bonds." Last year, the Janus Global Unconstrained Bond Fund outperformed a comparable fund at Gross's former employer, Pimco.
  • Bill Gross’ Janus bond fund suffers highest monthly outflow in November

    12/08/2015 3:24:44 PM PST · by sparklite2 · 11 replies
    One America News Network ^ | December 8, 2015 | Jennifer Ablan
    In November, Soros Fund Management LLC, which billionaire investor George Soros chairs, pulled its roughly $500 million from an account run by Gross at Denver-based Janus Capital Group Inc . The cash withdrawals are particularly significant for Gross as his Janus Global Unconstrained Bond Fund, which Gross began managing in October 2014, holds more than $700 million of Gross' personal money. So far this year, the Janus Global Unconstrained Bond Fund is posting negative returns of 2.01 percent and lagging 72 percent of its peer category, according to Morningstar.
  • Bill Gross' Latest: "Mainstream America Is Being Slowly Cooked Alive"

    09/23/2015 8:19:20 AM PDT · by SeekAndFind · 7 replies
    Zero Hedge ^ | 09/23/2015 | Tyler Durden
    While hardly as dramatic as Bill Gross' last letter in which he urged readers to "go to cash" as a result of the "Frankenstein creation" that ZIRP has created, his latest letter "Saved by Zero" takes a calmer stance and taking a page out of Paul Marshall's FT Op-Ed profiled yesterday, urges central banks to "get off zero" as the "developed world is beginning to run on empty because investments discounted at near zero over the intermediate future cannot provide cash flow or necessary capital gains to pay for past promises in an aging society. And don’t think that...
  • Boss at $2 trillion investment firm PIMCO says 10-year-old daughter made him quit

    09/29/2014 3:27:23 PM PDT · by Lorianne · 13 replies
    Fox News ^ | 27 September 2014
    The CEO of a $2 trillion investment fund said he made the decision to resign from his post after his young daughter wrote him a note listing 22 milestones he had missed in her life. California-based Mohamed El-Erian left his job as chief executive of PIMCO in mid-March. The 56-year-old El-Erian, who made $100 million in 2011 alone, chose to leave his post after his 10-year-old daughter wrote about all the special moments he was absent for in her life.
  • Billions fly out the door at Pimco (Bill Gross)

    09/29/2014 4:48:27 AM PDT · by MeneMeneTekelUpharsin · 13 replies
    Market Watch ^ | 29 September 2014 | Kirsten Grind, Gregory Zuckerman and Min Zeng
    Pacific Investment Management Co. suffered roughly $10 billion of withdrawals following the Friday departure of co-founder Bill Gross, a person familiar with the matter said, a sign of how quickly Mr. Gross’s surprise move is reshaping the bond-investing landscape. Pimco is bracing for more outflows on the heels of the veteran investor’s departure after months of internal strife over his leadership. At the same time, some managers say they remain committed to the firm. Some within the Newport Beach, Calif., investment firm are projecting it will lose at least $100 billion or more in assets due to withdrawals, the person...
  • Pimco Founder and Bond Guru, Bill Gross Quits Firm for Janus Capital

    09/26/2014 6:13:02 AM PDT · by SeekAndFind · 16 replies
    TIME ^ | 09/26/2014 | Laura Lorenzetti
    Bill Gross, who co-founded Pacific Investment Management, or Pimco, in 1971, will leave his own firm to join competitor Janus Capital. Gross served as the firm’s chief investment officer and managed the Pimco Total Return fund — one of the world’s largest bond funds with more than $1.9 trillion in securities, according to the company’s website. The fund has not done well for years, though, and has been plagued by huge outflows. “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...
  • Did Derivatives Cause Bond Fund Giant, PIMCO's $2 Trillion Divorce?

    02/28/2014 8:11:51 AM PST · by SeekAndFind
    American Thinker ^ | 02/28/2014 | Chriss Street
    The Wall Street Journal on February 25th published a story about December’s messy corporate divorce between Bill Gross and Mohamed El-Erianas, co-Chief Investment Officers at Pacific Investment Management Company (PIMCO), the world’s largest bond fund with almost $2 trillion in assets.  The article focused on the prickly personality of Gross and foul language complaints by El-Erian during a period of stress last summer when the firm was suffering market losses and clients were withdrawing billions.  But despite a carefully crafted image of a traditional conservative bond manager for “serious” money, PIMCO has magnified returns by making trillions of dollars in high-risk...
  • Wealthy didn't 'build that,' they 'rode it,' says Gross

    11/04/2013 2:06:16 PM PST · by Tailgunner Joe · 20 replies
    cnbc.com ^ | November 04, 2013 | Robert Frank
    In his latest Investment Outlook, titled "Scrooge McDucks," the outspoken Pimco co-founder said that with tax reform back on the radar, the focus should be on taxing the wealthy. Yes, he knows the rich work hard. And yes, he knows they pay an outsized share of the taxes. But Gross said the wealthy really didn't earn all of their wealth. They are lucky beneficiaries of a decades-long credit boom that poured money into the hands of the financially skilled. "You did not, as President Obama averred, 'build that,' you did not create that wave," he wrote. "You rode it. And...
  • There Will Be Haircuts (Bill Gross)

    05/01/2013 7:23:44 AM PDT · by blam · 17 replies
    Pimco.com ^ | 5-1-2013 | William Gross
    There Will Be Haircuts William H. GrossMay 1, 2013 “Good as Money,” proclaimed the ad for Twenty Grand Cognac. Being a beer drinker, and never having cashed in a Budweiser to pay for a fill-up at the local gas station, I said to myself “Man, that must be really good stuff!” Even in a financial meltdown I thought, you could use it in place of cash, diamonds, gold or Bitcoins! And if the Mongol hordes descend upon us during a future revolution, who wouldn’t prefer a few belts of Twenty Grand on the way out, instead of some shiny rocks...
  • We Are All Going To Die From Inflation Says Bill Gross

    02/04/2013 3:56:29 PM PST · by lbryce · 16 replies
    Points and Figures ^ | February 3, 2013 | Jeff Carter
    They say that time is money. What they don’t say is that money may be running out of time. There may be a natural evolution to our fractionally reserved credit system that characterizes modern global finance. Much like the universe, which began with a big bang nearly 14 billion years ago, but is expanding so rapidly that scientists predict it will all end in a “big freeze” trillions of years from now, our current monetary system seems to require perpetual expansion to maintain its existence. And too, the advancing entropy in the physical universe may in fact portend a similar...
  • BILL GROSS: Investment Banks Have Morphed Markets With 'Ponzi Finance' — And Time Is Almost Up

    01/31/2013 2:34:03 PM PST · by blam · 3 replies
    TBI ^ | 1-31-2013 | Matthew Boesler
    BILL GROSS: Investment Banks Have Morphed Markets With 'Ponzi Finance' — And Time Is Almost Up Matthew BoeslerJanuary 31, 2013, 9:52 AMBill Gross, the PIMCO fund manager known as the "Bond King," is out with his February investment letter, titled "Credit Supernova!" This month, Gross tackles the relationship between credit expansion and real growth. He channels the late economist Hyman Minsky, saying the economy is now in Minsky's "Ponzi finance" phase, "when additional credit would be required just to cover increasingly burdensome interest payments, with accelerating inflation the end result." Gross writes that new credit is providing diminishing returns: "Each...
  • Obama's Crony Capitalism (PIMCO Management Now in Bed with the White House)

    01/08/2013 7:13:30 AM PST · by SeekAndFind · 7 replies
    Reason ^ | 01/08/2013 | Ira Stoll
    On the Friday before Christmas, President Obama announced that he was appointing Mohamed A. El-Erian, the CEO of Pacific Investment Management Company, as the chairman of his Global Development Council. The announcement didn’t get much attention, but it should. It exemplifies what’s wrong with Obama’s approach to economic policy, which amounts to: insult rich people as “fat cats,” raise their taxes, and then choose a favored few of them for special access. If you’re not familiar with El-Erian, you must not be watching CNBC or attending the World Economic Forum at Davos. The son of an Egyptian ambassador to France...
  • Bill Gross the “Bond King” says Buy Gold, Not Bonds

    09/11/2012 8:29:15 PM PDT · by dennisw · 20 replies
    washingtons ^ | September 10, 2012 | Washingtons
    Bill Gross Says that Gold Holds Its Value, While – In an Era of Central Bank Money Printing- Paper Money Doesn’t Bill Gross – the world’s pre-eminent bond fund manager, nicknamed the “Bond King” – is the boss at Pimco, the world’s largest bond fund, with $1.8 trillion dollars under management. Gross told Bloomberg: [There's] a diminished or dying cult of both bonds and stocks from the standpoint of a belief that they can return 10% …. Gold can’t be reproduced. It could certainly be taken out of the ground in an increasing rate but there’s a limiting amount of...
  • Bill Gross: We’re Witnessing the Death of Equities

    08/01/2012 4:34:00 PM PDT · by TigerLikesRooster · 26 replies
    WSJ ^ | 07/31/12 | Steven Russolillo
    July 31, 2012, 3:03 PM Bill Gross: We’re Witnessing the Death of Equities By Steven Russolillo The bond king says stocks are dead. Bill Gross, Pimco’s co-founder and co-chief investment officer, says stock investors should think again about the age-old “buy-and-hold” investing mantra. He says consistent, annual returns are a thing of the past. “The cult of equity is dying,” Bill Gross wrote in his August Investment Outlook. “Like a once bright green aspen turning to subtle shades of yellow then red in the Colorado fall, investors’ impressions of ‘stocks for the long run’ or any run have mellowed as...
  • Pimco's Gross Sees US Nearing Recession as BlackRock Sees Fed Step

    07/17/2012 7:31:09 AM PDT · by Qbert · 4 replies
    MoneyNews ^ | 17 Jul 2012 | MoneyNews
    Bill Gross, who runs the world’s largest mutual fund at Pacific Investment Management Co., said the U.S. is approaching a recession as BlackRock Inc. expects the Federal Reserve to take more steps to support growth. Five-year Treasury yields slid to a record 0.577 percent Monday after an unexpected drop in U.S. retail sales rekindled speculation Fed Chairman Ben S. Bernanke will use testimony Tuesday to hint at further monetary easing. That followed data earlier this month showing American employers added fewer-than-estimated workers to payrolls. Goldman Sachs Group Inc. and Deutsche Bank AG cut forecasts for U.S. growth. The U.S. is...