January 22, 2003 |
Bill Gross of Newport Beach-based Pimco Funds has been putting his money where his mouth is. Gross, chief investment officer at Pimco and manager of the world's largest bond fund, spent more than $5 million of his own money to buy shares of so-called closed-end municipal bond funds in the fourth quarter, joining portfolio managers at other fund companies who have made similar purchases to take advantage of share prices that fell below the funds' net asset value.
November 19, 2011 |
When the U.S. government needed expert help in evaluating the bonds that caused the 2008 financial crisis, there were only two men it could turn to. Larry Fink, the founder of investment giant BlackRock Inc., and Bill Gross, the founder of Pacific Investment Management Co., are the generally acknowledged kings of the bond universe. Together, the companies they run hold approximately 7.5% of all outstanding bonds. The $1.2 trillion managed by BlackRock and the $1.1 trillion at Pimco dwarf the holdings of the next largest bond players, according to data from Pensions & Investments.
July 8, 1999 |
Fresh out of college, Bill Gross parlayed $200 into $10,000 at the Las Vegas blackjack tables, and he lives on Monte Carlo Drive in Laguna Beach. Sound like the kind of guy you'd want handling your investment portfolio? In fact, William H. Gross--Ohio native, Vietnam veteran, Duke University undergrad, UCLA MBA--has become one of the nation's most trusted asset managers.
February 22, 2004 |
People seek fame and fortune in the stock market all the time. But in the bond market, those two usually have been mutually exclusive. Investors whose goal is to master the extraordinary tedium of bonds typically don't seek the limelight -- and that's probably all for the best. There have been two exceptions in the modern era, and both are Southern Californians.
August 30, 1999 |
Bill Gross' Internet incubator Idealab launches a new company every few weeks. But even as the number of Idealab companies approaches 30, Gross is still searching for more entrepreneurial outlets. Last week, he invested in EHatchery, an Idealab knockoff based in Atlanta that aims to develop Internet companies in "Silicon South."
March 15, 2011 |
Mutual fund giant Pacific Investment Management Co. is planning to build new digs in Newport Beach. The proposed complex, designed by architect Henry Cobb, will include a conference center and a state-of-the-art trading floor, according to developer Irvine Co., which will oversee the project. The development will be about twice the size of Pimco's current 192,000-square-foot home, which is also in Newport Beach, the developer said. Pimco is headquartered at Pacific Financial Plaza in two contiguous buildings.