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Probably a fair amount, enough to cause concern. I think while people here have noted there are other successful Pimco funds/managers, Pimco's real failure was not grooming someone else to take a bit of the spotllight, as Gross (and Pimco Total Return) has been the "public face" of the company for maybe longer than he should have been. It's not that Gross is the only successful manager/talent at Pimco, but from the media reports on Pimco, you'd think that was maybe the case.
There have been some discussions about parent Allianz spinning Pimco off on its own. Paul McCulley is on CNBC this morning trying to put a happy face on everything.
@scott: I have just copied and pasted this subscription WSJ article titled "Giant Pimco And Founder Bill Gross Struggle To Heal Strains" under fund discussion where it belongs. Most MFO Members do not subscribe to the WSJ, and therefore cannot read articles unlees they Google them. Regards, Ted
Do people still subscribe to the WSJ online? Its subscription rate is outrageous, $300/yr. That's nearly 4x what it was when I first subscribed for online. Ridiculous. They are gone.
Comments
I wonder how much business they are losing?
There have been some discussions about parent Allianz spinning Pimco off on its own. Paul McCulley is on CNBC this morning trying to put a happy face on everything.
Regards,
Ted