Bill Gross and Larry Fink manage a $3 trillion pile of bonds -- an amount almost as big as Germany’s economy. Their firms, Pacific Investment Management Co. and BlackRock Inc., doubled holdings since 2008, outpacing the market’s growth of 50 percent.
Bill Gross , co-chief investment officer at Pacific Investment Management Co., recently bought $100 million of shorter maturity BP Plc bonds and some Anadarko Petroleum Corp. debt, spokesman Mark Porterfield wrote today in an e-mail.
Pacific Investment Management Co.’s 13-month-old exchange-traded fund is attracting more cash than the firm’s flagship Total Return mutual fund as investors join Bill Gross in preferring ETFs for bond investing.
John Hague , who helped Bill Gross build Pacific Investment Management Co. into the manager of the biggest mutual fund, is recruiting former colleagues for a firm to pursue more aggressive strategies as the bond rally fizzles.
Lawyers representing Paul Ceglia, the western New York man who claims a 2003 contract with Facebook Inc. co-founder Mark Zuckerberg entitles him to half of Zuckerberg’s holdings, said they are quitting, less than three months after taking on the case.