Bill Gross: I’m a 70-Year-Old Justin Bieber

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June 20 (Bloomberg) -- On “Movers & Shakers”, Betty Liu reports on Pimco Managing Director Bill Gross’s comments at a Morningstar conference in Chicago. Liu speaks on “In The Loop.” (Source: Bloomberg)

Pimco bond guru bill gross -- you have probably not seen him like this, rocking shades of the morningstar conference in chicago.

He told the conference he is a 70-year-old version of justin bieber i want to go all manchurian candidate on the reporters and hypnotize them into thinking he is a good guy.

On a serious note, he said he is betting market volatility will remain abnormally low.

Pimco is forecasting a new neutral era, one with lower interest rates and lower global growth.

Joining us for more on growth and forecast and his behavior is the bloomberg economic editor michael mckee.

We talked about bill gross and this slow implosion not only of his fun but the firm itself.

What do you make of this?

I talked to bill quite often and i think he has had a tough time with the fund.

It has been down and they have had a lot of redemptions and along comes the split with mohamed el-erian.

We will never know what happened between the two.

The press reports have been that bill gross was the bad guy and mohamed el-erian was the good guy.

The combination of the two things has bill gross trying to mend his image and public, lighten up a little bit and get people to smile and laugh at the same time deliver the message that pimco is still in good hands and it still making money.

Over the last month they have been making money but it has been rough for them.

The only way to ring back their reputation and their image is to perform well, right?

That's the bottom line what they are doing is placing their bets on this new neutral where markets will be calmer and they will not make a lot of money off of volatility.

Set that people are selling puts and calls at pimco an option spreads on the s&p 500. they could take advantage of a much more stable market and sell bonds as an alternative.

Thank you so much.

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This text has been automatically generated. It may not be 100% accurate.


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