Is Gross Done?

Not exactly nerves of steel at PIMCO these days:

WSJ:

"A month ago, with Pimco's bets misfiring, Mr. Gross was so stressed that he left the office, taking an unplanned vacation, sitting at his home with his wife, he says.

"I just had to leave for nine days, I couldn't turn on business television, I couldn't pick up the paper, it was just devastating," Mr. Gross says in an interview at Pimco's headquarters, near the Pacific Ocean. "We've increased the volatility [of the portfolio] but I'm not enjoying it. You can't sleep at night."

Mr. Gross, a stamp collector who has what is believed to be the only known complete collection of 19th-century U.S. postage stamps, played some golf, sat on the patio of his Laguna Beach home and ventured back to the office only after flipping through the television channels one day and noticing a bond rally was under way."

Timothy Burger
timothyb(at)timothyburger.com