One-time bond king Bill Gross is back, and now he’s picking stocks

Investing

Pimco founder and bond industry legend Bill Gross is done with his previous life running huge investment bonds and making market headlines. But that doesn’t mean he’s done as an investor.

Instead, the one-time “bond king” is putting money to work for his own sake rather than running what was once the world’s largest bond fund.

In an interview with CNBC’s Brian Sullivan, Gross offered a buffet of investing choices: real estate trust Annaly Capital, investment manager Invesco and specialty pharma firm Allergan to name three.  Annaly and Invesco have both been dogs this year, while Allergan is up more than 30%.

How well they do, though, are not of life-or-death importance to growth, whose net worth is estimated at $1.5 billion. Commenting on what he’s been up to since retiring in February from Janus Capital, where he managed its underperforming unconstrained fund, Gross said, “I’ve been at the beach or the golf course.”

Products You May Like

Articles You May Like

Port Authority sells notes to boost liquidity amid coronavirus
Far West focus: Muni market attention turns to big Calif., Ore. deals in $7.4B slate
Dividend payments plunge by $42.5 billion in worst quarter for income investors since financial crisis
The Post-Pandemic Real Estate Market
Stocks making the biggest moves after hours: Virgin Galactic, Redfin, Carnival and more