It actually sounds like he was about to be 'asked to leave' as he's been exhibiting 'increasingly erratic behavior'-according to some of his coworkers at Pimco.
Gross was one of Krugman's signature 'bond vigilantes.' Maybe his 'erratic behavior' is due to him reflecting on all that money he lost a few years ago on the 'Treasury bubble.'
In any case, for now, investors of Janus think having Gross join the firm is the greatest thing since sliced bread.
"Bill Gross has an exemplary track record with decades of success and he will offer an exceptional approach to navigating today's increasingly risky markets with a focus on macro, unconstrained strategies. His involvement provides Janus a unique opportunity to offer strategies and products that are highly complementary to those already managed by our credit-based fixed income team," Richard Weil, CEO of Janus Capital, said in a statement."
http://www.cnbc.com/id/102000441
No matter how things go for him at Janus, perhaps we shouldn't feel too bad for him-he's worth $2.4 billion dollars. However, his 'erratic behavior' shows that even for billionaires, if 'you cut me I will bleed.'
After the absurd racist behavior of Don Sterling some worried that there's no way you can really punish a billionaire. Time would prove that worry wrong as his punishment totally humiliated him-being banned from running his own team, being banned from the league for life.
When you're that rich it may not be easy to punish you financially. However, you can be humiliated-Zizek would say you can be hurt 'symbolically' and symbolic pain is always the worse-think of 'symbolic pain' as injury to your social standing.
Gross may be fine financially after his inflatonphobia was shown to be all wet, but symbolically he took a hit and maybe that's why he's so erratic these days.
Gross was one of Krugman's signature 'bond vigilantes.' Maybe his 'erratic behavior' is due to him reflecting on all that money he lost a few years ago on the 'Treasury bubble.'
In any case, for now, investors of Janus think having Gross join the firm is the greatest thing since sliced bread.
"Bill Gross has an exemplary track record with decades of success and he will offer an exceptional approach to navigating today's increasingly risky markets with a focus on macro, unconstrained strategies. His involvement provides Janus a unique opportunity to offer strategies and products that are highly complementary to those already managed by our credit-based fixed income team," Richard Weil, CEO of Janus Capital, said in a statement."
http://www.cnbc.com/id/102000441
No matter how things go for him at Janus, perhaps we shouldn't feel too bad for him-he's worth $2.4 billion dollars. However, his 'erratic behavior' shows that even for billionaires, if 'you cut me I will bleed.'
After the absurd racist behavior of Don Sterling some worried that there's no way you can really punish a billionaire. Time would prove that worry wrong as his punishment totally humiliated him-being banned from running his own team, being banned from the league for life.
When you're that rich it may not be easy to punish you financially. However, you can be humiliated-Zizek would say you can be hurt 'symbolically' and symbolic pain is always the worse-think of 'symbolic pain' as injury to your social standing.
Gross may be fine financially after his inflatonphobia was shown to be all wet, but symbolically he took a hit and maybe that's why he's so erratic these days.
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