Gross Gives Parting Shot As Palace Coup Approached

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Mark Melin
Published on
Updated on
Pimco Bill Gross Janus Capital

As the loud footsteps of the palace guard approach, swords being pulled from their scabbard, Bill Gross new the end was near.  When he made the discovery that a palace coup was about to replace him at Pimco, he acted quickly, making the first move before the guards and their swords reached him. He quickly resigned before he could be fired. In a letter to colleagues and friends, Gross said he recognized an “imminent palace coup” which he said “meant it was time for me to go.” Bill Gross a little upset over being replaced in PIMCO As he reflects…

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Mark Melin is an alternative investment practitioner whose specialty is recognizing the impact of beta market environment on a technical trading strategy. A portfolio and industry consultant, wrote or edited three books including High Performance Managed Futures (Wiley 2010) and The Chicago Board of Trade’s Handbook of Futures and Options (McGraw-Hill 2008) and taught a course at Northwestern University's executive education program.