The Bond King: How One Man Made a Market, Built an Empire, and Lost It All

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The Bond Kingis the story of how that whiz kid made American finance his casino. Over the course of decades, Bill Gross turned the sleepy bond market into a destabilized game of high risk, high reward; founded Pimco, one of today’s most powerful, secretive, and cutthroat investment firms; helped to reshape our financial system in the aftermath of the Great Recession—to his own advantage; and gained legions of admirers, and enemies, along the way. Like every American antihero, his ambition would also be his undoing. DEFENDANT' SUPPLEMENTAL MEMORANDUM OF LAW IN SUPPORT OF MOTION FOR REDUCTION OF SENTENCE Pursuant to Rule 35(b)", US v. Boesky, United States District Court for the Southern District of New York, April 13, 1989. An instant classic of finance and a joy to read. Mary Childs has a gift for explaining the rise of the modern bond market, one of the most important stories of finance, and interlaces that story with the deeply reported, thrilling, tragic and occasionally comic human story of the downfall of Bill Gross. And it is all written with great style, wit and insight. Anyone looking to understand the nuances of bonds or the difficulties of managing complicated people should read this book." — Matt Levine, 'Money Stuff' columnist, Bloomberg Opinion A deeply disturbing book on the insular world of very rich financial execs. The author has a delightfully approachable demeanor to the book that makes it less threatening. This really helps make it more readable.

The Bond Market - NPR The Strange Billionaire Who Revolutionized The Bond Market - NPR

The Bond King is the story of how that whiz kid made American finance his casino. Over the course of decades, Bill Gross turned the sleepy bond market into a destabilized game of high risk, high reward; founded Pimco, one of today’s most powerful, secretive, and cutthroat investment firms; helped to reshape our financial system in the aftermath of the Great Recession—to his own advantage; and gained legions of admirers, and enemies, along the way. Like every American antihero, his ambition would also be his undoing.Two other counts were related to tax evasion in transactions Milken carried out for a client of the firm, David Solomon, a fund manager [30] After this, Bill and Amy started messing with their neighbors. They began blasting loud music at all hours of the night — with speakers pointed right at their neighbor's house. Over the course of several months, they cranked up the volume on songs by Led Zeppelin, 50 Cent, and theme songs from old TV shows. Most frequently, they played the theme song from Gilligan's Island. NPR’s Planet Money host Mary Childs has written a biography of Bill Gross and PIMCO, the investment firm he founded. Fresh out of the UCLA Anderson School with a newly minted M.B.A., Bill Gross was hired to work as an investment analyst in the sleepy bond department of Pacific Mutual Life Insurance Co. It was there where Gross comes up with the then novel idea of trading bonds for total return, rather than holding them till maturity. Overall, this was an interesting book. I think you’d probably need some basic knowledge of what bonds are to understand what’s going on, but once you have that, it’s easy enough to follow along. After all, the real story isn’t about how bonds work, but how Bill Gross made Pimco successful and how he lost control of it all. a b Barbic, Kari (Summer 2012). "The Accelerator". Philanthropy. Archived from the original on August 13, 2012 . Retrieved September 27, 2012.

The bond king: how one man made a market, built an empire

Planet Money's very own Mary Childs just published a book about Bill Gross called The Bond King: How One Man Made a Market, Built an Empire, and Lost It All. Today, she tells us his story. If you do nothing, you will be auto-enrolled in our premium digital monthly subscription plan and retain complete access for 65 € per month. Bongioanni, Carlos (July 23, 2015). "How time in Navy, Vietnam shaped a budding billionaire's life". Stars and Stripes. Sullivan, Ronald (July 29, 1992). "Fund Manager Convicted of Taking Milken Bribes". The New York Times. Archived from the original on November 9, 2017 . Retrieved February 11, 2017. Ben Stein - A License to Steal: the Untold Story of Michael Milken and the Conspiracy to Bilk the Nation, Simon & Schuster, 1992

He invested in K12 Inc., a publicly traded education management organization (EMO) that provides online schooling, including to charter school students, for whom services are paid by tax dollars, [27] which is the largest EMO in terms of enrollment. [28] Scandal [ edit ] Harvey A. Silverglate, a defense attorney who represented Milken during the appellate process, disputes that view in his book Three Felonies a Day: "Milken's biggest problem was that some of his most ingenious but entirely lawful maneuvers were viewed, by those who initially did not understand them, as felonious, precisely because they were novel – and often extremely profitable." [30] Ivan Boesky and an intensifying investigation [ edit ] Later in that decade Gross was way ahead of the curve in predicting the mortgage melt down that was to come. He sent his people out to pose as home buyers to get a better understanding of the deteriorating underwriting standards for mortgages which led to a stellar year in 2007. Mary Childs (2022). The Bond King: How One Man Made a Market, Built an Empire, and Lost It All. Flatiron Books. ISBN 978-1250120847. Wigglesworth, Robin (March 9, 2019). "Bill Gross: 'We were looking for every penny we could get' ". Financial Times . Retrieved June 5, 2019.

The Bond King: How One Man Made a Market, Built an Empi…

a b c " Three Felonies A Day: How the Feds Target the Innocent (Chapter Four: "Following (or Harassing?) the Money"), Encounter Books, 2009" (PDF). Archived (PDF) from the original on September 27, 2010 . Retrieved February 5, 2010.

Informative and adventurous read, but desperately needed an editor. Basic mistakes like punctuation formatting, and flipping between using numerical dates and spelling out "two thousand twelve" are harring and take the reader out. It has been a long time since I devoured a book as just assiduously as this… I was completely gripped and I loved it.” ― Felix Salmon, Slate Money Bond King' Bill Gross leaves Pimco, joins Janus". Daily Republic. September 26, 2014 . Retrieved May 15, 2019. OMG! 1) Mary explains finance, financial engineering, and macroeconomics very well. 2) Obviously lots about Gross and Pimco I wasn’t aware of. Though I sat a few feet, generally less than 30, from Gross on trade floor, I got schooled!" -- John Brynjolfsson , ex PIMCO

Bill H. Gross - Wikipedia Bill H. Gross - Wikipedia

All of this text wall to say that I rather read more about the emotional toll taken by Bill Gross on the way down than the material strategy he employed on the way up. At least in the context of this book.

Bill Gross (1997). Everything You've Heard About Investing Is Wrong!. Crown Business. ISBN 0-8129-2839-3. English, Carleton (June 18, 2018). "Bill Gross got revenge on ex-wife with fart spray: court papers". New York Post . Retrieved June 12, 2019.