, Columnist
Bill Gross Misfired at Janus. But He Had the Right Idea.
Active managers need to make risky wagers, even if they could go bust.
Go big or go home.
Photographer: Misha Friedman/BloombergThis article is for subscribers only.
Active bond managers could use more of Bill Gross’s swagger.
No sooner had the hall-of-fame bond manager announced his retirement on Monday than the financial press declared his downfall. The Wall Street Journal headline proclaimed “Bill Gross, Onetime Bond King, Retiring After Messy Last Act,” and another in the Financial Times read “How the ‘bond king’ Bill Gross lost his crown.”