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El-Erian Described Bill Gross as One of World’s Best Investors

Chief economic adviser to Allianz SE, Mohamed El-Erian, said in an interview with Betty Liu on Bloomberg Television that, “I have had the privilege of watching him in action and he is just a great investor.” According to Bloomberg News, this is how the Pacific Investment Management Co.’s former Chief Executive Officer, Mohamed El-Erian, described Bill Gross, as one of the world’s best investors in his first television interview since leaving the investment firm in March.

El-Erian, 55, is a widely recognized thought leader and, along with Bill Gross, is credited with developing the post-global financial crisis concept of the “New Normal”. Bill Gross who manages the $232 billion Total Return Fund according to Bloomberg News, has among the best long-term track records in the industry. Bill Gross manages one of the world’s largest mutual funds, focusing mostly on bonds. Called “the nation’s most prominent bond investor” by the the New York Times, he co-founded Pacific Investment Management (PIMCO) and the 69-year-old billionaire investor currently manages PIMCO’s Total Return fund, reportedly the world’s largest bond fund, as well as several smaller ones.

El-Erian has reported that he left Pimco after 14 years to do something different. According to a report by Bloomberg Business Week, El-Erian said he now spends up to 50 percent of his time advising Pimco’s parent Allianz. According to the Investment news, El-Erian is also writing a column for Bloomberg View, the opinion section of Bloomberg News, working on a book about central banks and doing a periodic column for the Financial Times. Spending more time with his daughter, he cited as a main reason for his leaving from Pimco. “You realize there are special moments in your children’s life,” El-Erian said according to Bloomberg News. “I was missing too many of these special moments. It is that simple.”

Image Credit: www.newsfiber.com



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Jaan Posted by on April 24, 2014. Filed under Business News,Home. You can follow any responses to this entry through the RSS 2.0. You can skip to the end and leave a response. Pinging is currently not allowed.

 

 

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