BILL GROSS aka BILLIE BONDS aka BILLIONAIRE BILLIE BONDS :: “Top 5 MCs you ain’t gotta remind me . Top 5 MCs you gotta rewind me . I’m high up on the line you gotta get behind me . But my head so big you can’t sit behind me”
This is the inaugural ‘edition’ of a new section to the JetSetterFresh WEALTH series. “Profiles in Wealthiness-ness” will take a long hard look, and fire a fusillade of shots at those who have climbed the top of the Wealth Pyramid.
This section will hold nothing back and will analyze Power Brokers of the Past, Present and will even highlight some of those who will carry their Wealth into the distant future.
With each lucrative luminary we examine, our path will take us over similar territory with each one, The Road More Or Less Travelled, How I Made My Name & Fame, and Why I’m Special.
The ‘voice’ of Bill Gross’ pictures captions is sourced on the Kanye West Track, “Barry Bonds” #enjoy
The Road More Or Less Travelled
William Hunt Gross was born in on April 13, 1944 in Middletown, Ohio.
At the age of 10 his family moved to San Francisco for good. From there he hop-scotched through Duke University, served some time in Vietnam, and finished off by snatching up an MBA from UCLA, class of 1971.
Bill Gross aka Billie Bonds :: “Life of a Don . Lights keep blowin’ . Coming in the club with that fresh sh!t on . With something crazy on my arm ..uh uh arm. Here’s another hit, Barry Bonds”
Bill Gross aka Billie Bonds aka Billionaire Bonds, cut his dentures in risk taking and management, during his time as a professional blackjack player in Las Vegas. Rumor has it he turned a couple of Benjamin’s into $10,000 in his first few months out there, grinding away on consecutive 16 hour days as he honed his craft.
With his dentures sharpened in Las Vegas, Gross then managed a bond portfolio for Pacific Life Insurance during the 70s. Bill’s performance as the manager of the PIMCO Total Return Bond Fund garnered many accolades. He is the undisputed Bond King, as his expertise in the trading of all kinds of fixed income securities over the past 30 plus years, is beyond reproach.
He and his team always exhibited a skill coming up with medium term outlooks that didn’t over commit , yet could still leave them with the flexibility to move quickly when it was called for. To do what he did took a great deal of analytic nous and understanding of risk. Consistently making the right read of the fixed-income environment and to executing a profitable strategy is not child’s play. I’m sure it’s on par with a 10-hour bender in Vegas while counting cards. #ImJustSaying
A Three time ‘Fixed Income Manager of the Year’ and recipient of the Bond Market Association’s Distinguished Service Award, Bill Gross aka Billie Bonds has produced as many hits as BALCO. His fund soared to Industry Leader status, and his words became verbal currency.
Bill Gross aka Billie Bonds beat his baseball counterpart into the Hall of Fame in 1996 when he was the first portfolio manager inducted into the Fixed-Income Analyst Society Inc.
Barry Bonds aka BALCO Barry :: “This is what ya’ll been waiting for ain’t it? What people pay paper for damn it?! They can’t stand it, They want something new . So lets get reacquainted . Became the hoods favorite . I can’t even explain it, I surprise myself too”
How I Made My Name & Fame
In 1999, PIMCO sold a majority stake of 70% of itself to German firm, Allianz SE. The multi-billion dollar sale was a windfall for Gross of some $26 million.
Now all grown up, and slightly more wrinkly, Billie Bonds is the faithful and excellent captain of the same PIMCO Total Return Bond Fund, the largest in the Game at a hefty $250+ Billion. All told the current PIMCO umbrella has over $1 Trillion dollars under management.
Bill Gross aka Billionaire Billie Bonds :: “I ‘ve been a really good sport haven’t I this year? They say he going crazy, and we seen this before . But i’m doing pretty good as far as Geniuses go . And I’m doing pretty hood in my pink polo . Brutha please!”
Bill Gross is a well known and respected commodity in the Global Markets and therefore he is what we call a Ca$h Talker. His words can make him just as much money as his investing at times.
“Gross doesn’t adjust to market conditions – he changes them! His views on the bond market are widely followed by professional investors and the investing public worldwide.” – SmartMoney.com’s Nicole Bullock (July 05)
ENTER DARTH BILLIE BONDS
Everything in Life is imbued with the “Force”.
The “Force” has both a Light and Dark side, and Darth Billie Bonds is a person who walks the line of both sides of the force.
While I’m making no claims, many on the Street just take it for granted that Billie Bonds may have some insight into the future play calls of the Federal Reserve. The size of his portfolio and his calls are used as industry bellwethers. He also has an ‘uncanny’ ability to making winning trades, and his moves are usually profitable and early.
The timing of his moves is no-doubt based on some of the ‘Inside’ connections of which he cultivates. At this point he’s a part of the global debt market fabric, and he can’t easily be torn out.
Let us not forget, Anakin before he became Darth Vader, was a masterful young Jedi who was in league with Senator Palpatine. Palpatie latter showed his true colors as the Emperor of the Galactic Empire.
In a piece released by PIMCO written in Q3 of 2008 Mr. Gross said the following ::
“..if we are to prevent a continuing asset and debt liquidation of near historic proportions, we will require policies that open up the balance sheet of the U.S. Treasury – not only to Freddie and Fannie but to Mom and Pop on Main Street U.S.A., via subsidized home loans issued by the HFA and other government institutions.”
TRANSLATION :: Despite my knowledge that this crisis was the result of massive debt creation, I’m advising that we create more debt, and put some of it on the backs of the USTaxpayer as well. I maaaay have a slight interest in this coming true, but just ignore those facts.
Bill Gross…now known as Darth Billie Bonds, then loaded up on the infamous ‘toxic mortgage backed securities’. This is before and during the Crisis outbreak.
Using his skills in the Force, or better yet some inside connections, Darth Bonds was able to divine that the Federal Reserve would come in and bail out the Mortgage Bond market. Which they did, overpaying for all of the toxic junk bonds at 100% of their value. (Most of them have shown their actual worth to be around 40% of their stated value.)
He and his fund netted nearly $1.7 Billion in one day once the USGovt nationalized Fannie Mae and Freddie Mac, a move that he lobbied quite hard for.
Sitting on a purported personal net worth over $2 Billion, Billie Gross has become the Darth Vader on the Empire’s battle cruiser in the Debt Wars.
He’s able to make money going and coming.
Blasting holes in the credit spreads and serving reverse swaps of bad Fannie Mae debt to the Fed itself, Darth Billie Bonds is a force to be reckoned with.
Bill Gross aka Darth Billie Bonds :: “How you gon’ say I ain’t non Lo-Head . Cuz my Dior got me More My Doughead? I’m insulted . You should go ahead . And bow so hard that your knees hit your forehead “
Why I’m Special
The reason that Billie Bonds is the 1st person we profile is because his position and influence is massive. On WallStreet, the Global Bond Markets are called the “Smart Money”, while the Equity or Stock Markets are called non-surprisingly, “The Dumb Money”.
Got a 401(k), or an E-Trade account? Well then color yourself stupid according to WallStreet.
Global Equity Markets – $32.5 Trillion..give or take a trillion (May 2011)
Global Bond Markets – $95 Trilion..give your take a trillion (April 2011)
Global Bond, or Fixed Income Markets, as they are more technically called, are 2/3rds bigger than the Equity Markets. While most of the time ‘selling investments’ are spent focused on the Dow, S&P and NASDAQ. The spreads on sovereign CDS for Greece, or facing an inverted yield curve can have far more effect on populations.
The Global Bond markets are the “Tail That Wags The Dog”.
The USFederal Reserve System executes Open Market Operations by buying and selling fixed income instruments into the Global Markets.
The Primary Dealer network, who serve as trading counterparties to the Fed, is there to not only ensure that the US and World Economies continue to get their debt/equity fix, but they also are mandated to purchase US security issuances within a certain amount. That is the real reason we’ll never have a failed bond auction, it is implicitly impossible as per the design of the Federal Reserve System.
Bill Gross effectively operates like one of these Primary Dealers, yet he’s got the best of All Worlds, he doesn’t have to buy jack!
Bill Gross aka Billie Bonds aka Darth Billie Bonds:: “…We outta here baby . We outta here baby . “
In the 1st Quarter of this year, after getting all that he could get, Billie Bonds sold off most of his USTreasury holdings in search of more yield. With that move, he verbally assailed the FED as a ‘Ponzi Scheme’ and told Americans to be weary.
Well isn’t he nice. …
After collecting all the pennies before they released the steam rollers, he’s now tell us all to get out of the way. Thanks Billie! I just feel all warm and fuzzy inside now.
There is no doubt in the skill and vision of the man as far as portfolio analysis and construction go, but when your actions can make even the FED tremble, you’re more than just the ‘average’ investor.
Love him or hate him, Billie Bonds is a Ca$h Talker, and time is money.
37 years in the Game have given him command of the DebtStar, a legion of followers, and a rather impressive fortune of $2 Billion built digital chip by chip during a long career of transaction fees.
Darth Billie Bonds speaking as Bill Gross:: “The bill for our collective speculative profligacy, obvious in the deflating asset markets, can be paid now or it can be paid later”
After banging out hit after hit during the steroid era of everything “Financial”, Bill Gross aka Billie Bonds has blessed us with this most recent hit, ‘Six Pac(k)in’ ::
“There are no double-digit investment returns anywhere in sight for owners of financial assets. Bonds, stocks and real estate are in fact overvalued because of near zero percent interest rates…. There is only a New Normal economy at best and a global recession at worst to look forward to in future years.
A modern day, Budweiser-drinking Karl Marx might have put it this way: “Laborers of the world, unite – you have only your six-packs to lose.” He might also have added, “Investors/policymakers of the world wake up – you’re killing the proletariat goose that lays your golden eggs.”
William H. Gross
Well said my man.
Only someone extremely adept at Wealthiness-ness could say that with a straight face.
Using the Force can sometimes be as simple as Black and White, or Light vs Dark.
This story is sure to be continued . . .
“Use the Force Luke..!”
– Obi Won Kenobi