Professor Elam

Monday Sept 29 2014

Here are more details on the departure of Bill Gross from PIMCO. Allianz has owned PIMCO since 2000. 

Gross apparently took the first thing he could find and will be managing a tiny bond fund at Janus. Janus has been underperforming the markets and paid fines for trading violations. 

As I remarked in class these guys never quietly retire. Gross could have picked an exit when things were in great shape and handed over to El Erian. Instead the 2x b illionaire blamed others for problems. And in the end, he has become the problem. 

Lucille Ball never quit trying to be Lucy, still on Television sans Ricy, Fred, and Ethel into her 70s. Frankly it was a sad site. Carol Burnett however took her show off the air while it was still popular. Carol has remained in demand ever since.