Pimco Exits Stock Investments… Again

As the most persistent long-term uptrend in bond prices was nearing a wall five years ago, with yields on the U.S. ten year note fluttering near 3 percent and short term rates on a path to near zero, Bill Gross saw the writing on the wall, sources have said. He had lived through the most amazing time to be a long bond manager and wanted to diversify Pimco away from being a one trick pony in bonds.  This is when he established an equity offering and soon after built a respected quantitative managed futures division. One of those diversification components…