The Bond King: How One Man Made a Market, Built an Empire, and Lost It All

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This is a good book about finance, management, the great financial crisis of 2008-09, and bond finance.

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

In a separate complaint filed after Gross and Schwartz's lawsuit, Towfiq accused the couple of harassing him by playing the theme from " Gilligan's Island" at loud volumes using outdoor speakers. She is a keen observer—of the “abruptly rich” young titans at Pimco and of their boss’s aversions (noise on the trading floor, eye contact, cellphones, Christmas parties) and pleasures (bonds, work, stamp collecting). It was widely reported that the departure of Pimco chief executive Mohamed El-Erian was triggered by conflict with Gross.

This was designated to build a new hospital ship, the Global Mercy, [58] to join the existing hospital ship, the Africa Mercy, in delivering medical services to the poor. Goldman Sachs has areputation for providing asteady stream of treasury secretaries through the revolving door between New York and Washington, earning it the nickname “Government Sachs. The Bond King" then turns into a spiraling tale of a paranoid, ego-bruised CIO who was once legendary and whose deteriorating mental state threaten the profitability of the firm he founded. a publicly traded education management organization (EMO) that provides online schooling, including to charter school students, for whom services are paid by tax dollars, [27] which is the largest EMO in terms of enrollment. 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.

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

On October 3, 2018, Gross continued his formal exit from the market when Siegel Auction Galleries sold 106 of his pieces at the Lotte New York Palace hotel in New York City. Later that year, Giuliani began considering an indictment of Drexel under the powerful Racketeer Influenced and Corrupt Organizations Act. Gross possesses a lawyer-like affection for details, dipping into the minutiae of bonds, financing, and trades to make ever more money for PIMCO's clients. At the end of the day, Gross may have only a few tangible things left in his wake: hurt feelings; massive piles of cash; and nifty bond-trading techniques understood by few and benefiting only the richest of the rich.

Milken was one of the few prominent holdovers from the Drexel side of the merger, and he became the merged firm's head of convertibles. Anyone looking to understand the nuances of bonds or the difficulties of managing complicated people should read this book. He announced his retirement from Janus Henderson Investors and active fund management in February 2019.

Michael Milken - Wikipedia Michael Milken - Wikipedia

Bill Gross's intense focus and quest for fame helped make him a leader in the industry, but also cost him his empire. Yet he also comes across as an egotistical, mercurial boss who was so verbally abusive to his staff that some avoided walking by his office to keep from running into him. Milken's high-yield "pioneer" status has proved dubious as "original issue" high-yield issues were common during and after the Great Depression.Gross admitted, "You can say that I'm talking my book"—that is, he had a conflict of interest in urging a policy that would benefit him financially. Even though on paper this took me a month to finish, "The Bond King" is well-paced, light and simple to read. Peltz, "Milken's Largess Slows Down: Donations: The junk bond king's charitable trusts have virtually stopped growing since his 1989 federal indictment" Archived November 9, 2017, at the Wayback Machine, Los Angeles Times, September 15, 1992.

The Bond Market - NPR The Strange Billionaire Who Revolutionized The Bond Market - NPR

However, just as a note for comparison, her book jacket advertises the book as "[a] story of how that whiz kid made American finance his casino. Shortly afterward, Milken resigned from Drexel and formed his own firm, International Capital Access Group. Talk of an "end of the housing boom" and the housing market being a "disaster-in-waiting" increased in volume and PIMCO began to shift its portfolio accordingly. This led to an SEC probe of Drexel, as well as a separate criminal probe by Rudy Giuliani, then United States Attorney for the Southern District of New York.Mary Childs talks about the rise and fall of Bill Gross in "The Bond King" : Planet Money Investing legend Bill Gross revolutionized the bond market, built an empire, and lost it all. El-Erian giving their seasoned points of view of what was happening in the market, and what they were going to do about it.