Bill Gross (mutuals)

Bill Gross (fl. 1990s) is an American financial manager and investment author.

He was born in Middletown, Ohio, and graduated from Duke University. He served in the Navy, and earned an MBA from UCLA. Gross briefly played blackjack professionally in Las Vegas, and has said that he applies many of his gambling methods for spreading risk and calculating odds to his investment decisions. In the 1990s he authored two popular-market books on investing.

Gross is one of the world's largest mutual fund managers, focusing mostly on bonds. Called "the nation's most prominent bond investor" by the New York Times, he manages Pacific Investment Management's Total Return fund (the world's largest bond fund and fifth largest mutual fund) and several smaller ones.

Gross is also a prominent philatelist, or stamp collector. As of November 2005, he became the second person (after Robert Zoellner in the 1990s) to form a complete collection of 19th century United States postage stamps. In October 2005, he purchased at auction for $2.97 million a unique plate block of the famous 1918 24-cent U.S. airmail stamps known as the "Inverted Jenny," featuring an engraving of a Curtiss JN-4 biplane printed upside-down. He then traded the stamp block for an even rarer "1-cent Z Grill" from 1868, depicting Benjamin Franklin, thus completing his 19th century collection.

According to Forbes in 2004, he is the 278th richest person in America, with a net worth of over $1 billion. His annual salary from PIMCO is $40 million.

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Bibliography

  • Bill Gross (1997). Everything You've Heard About Investing Is Wrong!, Crown Business. ISBN 0812928393.
  • Bill Gross (1998). Bill Gross on Investing, Wiley. ISBN 0471283258.
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External links


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