Join NexChange - the professional
network for the financial services
industry - and receive a free one-
year subscription to Forbes
Bill Gross calls out Michael Novogratz
With the closure of Michael Novogratz’s Fortress Macro Fund splattered all over the news, Bill Gross, the former bond king and renowned ruminator of all things doo-dooey, had some pretty interesting things to say on his twitter feed:
Gross: Story of The Day - Deep out of the money hedge funds shut down if 20% of profits out of reach. Start over later with clean slate!
— Janus Capital (@JanusCapital) October 13, 2015
Interestingly, here’s how PIMCO’s Total Return Bond Fund did prior to his jump to Janus.
Pot, meet kettle.
To be completely fair though Total Return’s performance really wasn’t the disaster people were making it out be, although it definitely was a far, far cry from its former glory.
Still, with all the Mills and Boonery following his departure from PIMCO, his new fund's constant outflows, and the lack of uncomfortable, personal musings in his monthly outlook, somebody should really go check on him. These antics of his are starting to get a little out of hand.