Gross Trying to Short Credit to Reverse Decades of Instinct
- Gross expects June Fed rate hike and gradual increases later
- Janus fund has returned 1.7% since Gross took over in 2014
Bill Gross: Why I'm Trying to Go Short on Credit
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Bill Gross, who built a career and a $1.9 billion personal fortune as a bond investor, is trying to overcome his reluctance to bet against corporate debt, a position that he said runs contrary to his instincts and training.
Gross, who manages the $1.3 billion Janus Global Unconstrained Bond Fund, said he expects corporate-bond prices to fall in part because they’ve risen so fast since mid-February but also because he believes a day of reckoning will come when central banks will no longer be able to prop up assets and investors will withdraw from markets.