Bill Gross, the 'Bond King,' has just changed the rules so he can buy stocks for the largest mutual fund on earth.
This one is for the hard of hearing and the folks all the way in the back of the auditorium...
Bill Gross, the "Bond King", has just changed the rules to allow for the buying of equity-linked securities in his Pimco Total Return flagship fixed income fund (the largest mutual fund on earth).
My "tidal wave of money out of bonds into stocks" call from October (When the Levee Breaks) is looking ridic right about now. Oh yeah, on August 26th, I told you you they were coming for that long bond. I was 30 days or so early (Save This Post Like It Was Private Ryan). Many in the blogosphere were all over this.
Bill Gross’s Pimco Total Return Fund, the world’s largest mutual fund, is expanding its policy to allow investments in equity-linked securities for the first time since 2003.