Bill Gross is 70 years old and worth over $US2 billion personally, so there was surprise in some corners that the legendary investor didn’t just retire after his acrimonious split from PIMCO last month.
Instead of retiring, Gross is joining the much smaller investment firm Janus, which currently has just $US12 million in it (vs. the greater than $US200 billion that Gross managed at the Total Return Fund).
So why isn’t Gross hanging it up?
He was asked that in a Barron’s interview, and his answer seems totally honest and believable:
Managing money is in my blood. I like to get up at 5:30 in the morning and make money for clients and compete against other money managers. That’s something that doesn’t go away. I am obsessed with delivering value to investors and winning the game from a personal standpoint. Retiring at this point in my career just doesn’t suit me.
Sounds totally believable to us. Gross is obsessed with winning “the game” (indeed he got his start by beating blackjack). No way he’ll let himself go out as a loser.