WILLIAM H. GROSS AUCTIONS COLLECTIONS TO BENEFIT THE NATIONAL POSTAL MUSEUM". Smithsonian National Postal Museum. November 23, 2009. The Financial Times wrote in March 2019: "Active, aggressive bond investing was Gross' big innovation. Historically, insurers and pension funds were the big buyers of bonds. They rarely traded — in fact bonds were typically kept in a vault, and selling meant physically mailing them to the buyer — and enjoyed cordial, clubby relationships with Wall Street. Pimco, on the other hand, actively traded in and out of positions, expanded assertively into hot new areas like junk bonds and emerging markets, and used its increasing clout to cudgel banks into giving them better bids." [18] But that did not matter because, for some reason, "Gross had been impressed by [Kashkari]" and the hire reinforced a desired "cozy relationship with the government." Kashkari did not fit the PIMCO mold and lasted all of three years before departing to "explore returning to public service." A failed run for governor of California and ultimately a position as president of the Federal Reserve Bank of Minneapolis ensued.

The Bond King: How One Man Made a Market, Built an Empire The Bond King: How One Man Made a Market, Built an Empire

Kornbluth, Jesse (1992). Highly confident: The Crime and Punishment of Michael Milken. William Morrow and Co. p.213. Labaton, Stephen (December 10, 1988). "4th Drexel Employee in Immunity Bargain". The New York Times. ISSN 0362-4331 . Retrieved November 25, 2020. Mangan, Dan (February 18, 2020). "Trump pardons Michael Milken, face of 1980s insider trading scandals". CNBC . Retrieved November 29, 2021.It's amazingly good. It cuts through all the mind-numbing jargon of the finance world to provide an accessible and illuminating look at the rise of the multitrillion-dollar bond market. It's beautifully written. It's meticulously researched and reported. It's eye opening. And it centers on a fascinating and entertaining character whose journey takes us right to the heart of the story of high finance over the last half century." ― Greg Rosalsky, Planet Money newsletter

The Bond King ♕ — mary childs The Bond King ♕ — mary childs

The Bond King details the intractable brilliance of Bill Gross that enabled him to build a bond empire but also kindled his own demise. The book navigates into some of the “colorful” corners of Gross’ recent years (including his acrimonious divorce and Hatfield’s vs. McCoy-like feud with his neighbor), but, importantly, it emphasizes practitioner-level insights into the markets he once dominated. The book could have been salacious, but to [Childs'] credit, it remains serious and insightful." — Mike Terwilliger, BC Partners Credit Sullivan, Ronald (July 29, 1992). "Fund Manager Convicted of Taking Milken Bribes". The New York Times. Archived from the original on November 9, 2017 . Retrieved February 11, 2017. My previous knowledge of PIMCO came from my familiarity with the "Big Three" public financial figures who worked there. Bill Gross, who is the central figure of Childs's book, was tagged with the moniker "the bond king" by Fortune in 2002. He is familiar to the public because of his many appearances on Bloomberg, CNBC, and other financial networks. Economist Mohamed El-Erian has also been active on the business TV circuit, was under consideration for vice chairman of the Federal Reserve during the Trump years, and is more recently known as a harsh critic of the Federal Reserve's handling of monetary policy in the wake of the pandemic. Neel Kashkari is familiar thanks to his stint as the bailout czar under Paulson during the Great Recession. I never followed closely their work at PIMCO, but Childs does a good job of weaving a compelling narrative to fill that void. OMG! 1) Mary explains finance, financial engineering, and macroeconomics very well. 2) Obviously lots about Gross and Pimco I wasn’t aware of. Though I sat a few feet, generally less than 30, from Gross on trade floor, I got schooled!" -- John Brynjolfsson , ex PIMCO The Bond King is the story of Bill Gross, the man who founded Pacific Management Investment Corporation (Pimco) and basically made the concept of trading bonds profitable and successful, hence the title “bond king”. Pimco profited during the 2008 financial crisis, but the atmosphere at the company eventually got too toxic and things went downhill from there.In 2003, Milken launched a Washington, D.C.-based think tank called FasterCures, which seeks greater efficiency in researching all serious diseases. Initiatives of FasterCures include TRAIN, Partnering for Cures, and the Philanthropy Advisory Service. [57]

The Bond King | Cato Institute The Bond King | Cato Institute

Wigglesworth, Robin (March 9, 2019). "Bill Gross: 'We were looking for every penny we could get' ". Financial Times . Retrieved June 5, 2019. a b c d e Stewart, James B. (1992). Den of Thieves (reprinted.). Simon & Schuster. p.517. ISBN 0-671-79227-X. Archived from the original on May 14, 2016 . Retrieved April 22, 2016.

El-Erian's personal lawyer played an important behind-the-scenes role in the development of The Bond King. Childs takes several breaks from her tale to clarify the lawyer's position on statements in the book. For example, she explains that "according to people familiar with the conversations, El-Erian had demanded co–CEO, too" when he returned to PIMCO. However, El-Erian's lawyer states "that it was Gross's idea, as part of a succession plan." That makes me wonder, were Childs and her publisher under threat of a lawsuit if they did not give El-Erian's side of the story on every matter of controversy she raises in The Bond King?

The Bond King - Google Books The Bond King - Google Books

THE MILKEN SENTENCE; Milken: Pathfinder for the 'Junk Bond' Era". The New York Times. November 22, 1990. Archived from the original on February 4, 2017 . Retrieved February 11, 2017. Gilder, George (2000). Telecosm: How Infinite Bandwidth Will Revolutionize Our World. Simon & Schuster. p.170. ISBN 9780743215947. Childs avoids the obvious trap for books like these: getting lost in the byzantine details of Wall Street. From bonds to derivatives, Childs takes the time to explain each step succinctly and in plain English. The author's aptitude for such details is enormously appreciated and suits her well for future projects in the universe of Wall Street. Top 10: See the most expensive Orange County home sales of 2018". Orange County Register. January 29, 2019 . Retrieved June 18, 2020. Gross was born in Middletown, Ohio, the son of Shirley ( née Tait), a homemaker, and Sewell Mark Gross, a sales executive for AK Steel Holding. [2] [3] Part of his family is originally from Winnipeg, Canada. [4] He was raised a Presbyterian. [5] He moved with his parents to San Francisco in 1954. [3] Gross graduated from Duke University in 1966 as an Angier B. Duke Scholar, and with a degree in psychology. [6]Their neighbors didn't like the look of this net-covered sculpture. They said it obstructed their view and asked Bill and Amy to remove the sculpture. Bill and Amy refused. So the neighbors complained to the city of Laguna Beach, and the city ended up telling Bill and Amy they needed permits for the sculpture (apparently, Laguna Beach has a lot of regulations). Grand Catalogue of the Phi Kappa Psi Fraternity - Twelfth Edition, p. 132: Bernard C. Harris Publishing Company, 1985. Entertaining. . . . [Childs] is a keen observer. . . . She ably describes the mechanics of the mortgage futures market. . . . A galloping narrative." — Wall Street Journal Following the collapse of Wall Street in 2008, Gross emerged as one of the nation's most influential financiers, and became among the most fervent supporters of the Obama administration's strategy (the Public-Private Investment Program, or P.P.I.P.) to enlist private investors to help bail out the nation's ailing banks and try to revive the economy. [19]