QOTD: The Bond Paparazzi

Posted by

What can you do at Janus that you couldn’t at Pimco?

"Janus is a much smaller shop. Obviously, there will be fewer executive and people responsibilities, so I’ll be able to devote more time to managing money, as opposed to managing an organization. I’ll still be intense; I figured out long ago that I can’t change that. But the intensity and decibel level drop a bit in a smaller place. Also, common sense suggests that it will be easier to implement ideas in a $100 million portfolio than in a fund with more than $200 billion."

Did Pimco Total Return finally grow too big to manage effectively?

"I don’t want to get into that. Total Return had advantages and disadvantages because of its size. All I can say is: It will be easier to establish positions without the press noticing on a daily or monthly basis. The bond paparazzi will be less interested in Janus than they were in Total Return."

Bond King Bill Gross’ Next Act (Barron's)

The above comes from an exclusive interview with Bill Gross at Barron’s this weekend. The size issue is interesting – I think it’s kind of cool that we get to watch one of history’s greatest bond managers start over with a much smaller fund.

I doubt very highly that the “Bond Paparazzi” will be less interested, by the way – at least initially. The

This content, which contains security-related opinions and/or information, is provided for informational purposes only and should not be relied upon in any manner as professional advice, or an endorsement of any practices, products or services. There can be no guarantees or assurances that the views expressed here will be applicable for any particular facts or circumstances, and should not be relied upon in any manner. You should consult your own advisers as to legal, business, tax, and other related matters concerning any investment.

The commentary in this “post” (including any related blog, podcasts, videos, and social media) reflects the personal opinions, viewpoints, and analyses of the Ritholtz Wealth Management employees providing such comments, and should not be regarded the views of Ritholtz Wealth Management LLC. or its respective affiliates or as a description of advisory services provided by Ritholtz Wealth Management or performance returns of any Ritholtz Wealth Management Investments client.

References to any securities or digital assets, or performance data, are for illustrative purposes only and do not constitute an investment recommendation or offer to provide investment advisory services. Charts and graphs provided within are for informational purposes solely and should not be relied upon when making any investment decision. Past performance is not indicative of future results. The content speaks only as of the date indicated. Any projections, estimates, forecasts, targets, prospects, and/or opinions expressed in these materials are subject to change without notice and may differ or be contrary to opinions expressed by others.

Wealthcast Media, an affiliate of Ritholtz Wealth Management, receives payment from various entities for advertisements in affiliated podcasts, blogs and emails. Inclusion of such advertisements does not constitute or imply endorsement, sponsorship or recommendation thereof, or any affiliation therewith, by the Content Creator or by Ritholtz Wealth Management or any of its employees. Investments in securities involve the risk of loss. For additional advertisement disclaimers see here: https://www.ritholtzwealth.com/advertising-disclaimers

Please see disclosures here.

What's been said:

Discussions found on the web
  1. buy proviron commented on Jan 18

    … [Trackback]

    […] Read More on on that Topic: thereformedbroker.com/2014/10/04/qotd-the-bond-paparazzi/ […]

  2. manulife login commented on Jan 26

    … [Trackback]

    […] Here you will find 80629 additional Info to that Topic: thereformedbroker.com/2014/10/04/qotd-the-bond-paparazzi/ […]

HowIInvestMyMoney