He is the co-founder and leading manager for Pacific Investment Management Co (PIMCO).
PIMCO has over $600 billion under management in fixed-income investments making it by far the world’s largest bond fund.
Bill Gross was raised a Presbyterian. He grew up in Ohio, US. His mother Shirley (Tait) was a homemaker, and Sewell Mark Gross, a sales executive for AK Steel Holding.
He moved with his parents to San Francisco in 1954.
Bill Gross graduated from Duke University in 1966 with a degree in psychology.
At Duke, he joined Phi Kappa Psi. He then served in the Navy where he earned an MBA from the UCLA Anderson School of Management.
In 1971 Bill Gross then lived a brief period as a professional gambler, playing blackjack in Las Vegas, Nevada. Over four months, he had turned $200 into $10,000 playing blackjack. But by the time Goss got kicked out of several casinos, he’d already internalized his lessons. Gross said that he learned many things about business and risk by counting cards in Las Vegas.
In his books and interviews, Gross said that he applies many of his gambling methods for spreading risk and calculating odds to his investment decisions.
Bill Gross started his financial career working as an investment analyst for Pacific Mutual Life between 1971 and 1976.
Gross managed one of the world’s largest mutual funds, focusing mostly on bonds. He has been called “the nation’s most prominent bond investor” by The New York Times.
Gross left PIMCO in September 2014.
Other information of interest; Gross (along with a string of Wall Street titans) has taken to Transcendental Meditation.
He is the largest donor in history to Doctors Without Borders, donating approximately $25m.
Goss is also an avid stamp collector.
known as the “king of bonds” Gross is an investor, fund manager with a personal Net Worth of 2.5billion USD (2017) Forbes
Gross build his fortune playing the long game. He is a long term investor who believes that successful investment in the long-run rests on two foundations: the ability to formulate and articulate a long-term outlook and having the correct structural composition within one’s portfolio over time to take advantage of this outlook.
He goes on to say that long-term should be about 3-5 years, and by thinking this far out, it “prevents investors from getting emotional whiplash of the day-to-day markets.”
Quotes; “The first is that if you apply yourself with a lot of hard work and mathematical prowess you can beat the system” Gross told The Guardian in 2014.
“What you once thought was good now looks bad, and the swing of the pendulum between greed and fear starts to accelerate,” a process that could turn one “into a brain-dead investor.”
If you apply yourself with a lot of hard work and mathematical prowess you can beat the system – Bill Gross
Gross has written the following books:
Bill Gross (1997). Everything You’ve Heard About Investing Is Wrong!. Crown Business. ISBN0-8129-2839-3.
Bill Gross (1998). Bill Gross on Investing. Wiley. ISBN 0-471-28325-8.
What you once thought was good now looks bad, and the swing of the pendulum between greed and fear starts to accelerate – Bill Gross
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