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Top Fund Manager - Bill Gross, Pimco

Born in Middletown, Ohio and a graduate of Duke University, Bill Gross is one of the world's most renowned mutual fund managers with a focus primarily on bonds. He is considered the most prominent bond investor in the United States. Perhaps this success has roots extending back to his professional blackjack days in Las Vegas. Despite the reason, Bill Gross, PIMCO (the firm that he co-founded), and anyone he works for benefits greatly.


Co-founded by Bill Gross, PIMCO (Pacific Investment Management Company, LLC) started in 1971 with only $12 million in assets. By March 31, 2009 Pimco had over $756 billion in assets, reflecting the success that Gross has brought to the table. However, a German company, Allianz, bought PIMCO in 2000. Bill Gross continues to work for PINCO and in January 2010, the company reported assets of $1 trillion.


Currently, Bill Gross, PIMCO, and PIMCO's Total Return Fund are quite popular. Gross is currently managing the Total Return Fund, in which he is managing more than $200 billion within this fund.


As for how Bill Gross says he has achieved success in becoming the one of the largest mutual fund managers in the world, he states that he spreads around risk by applying the gambling methods he learned when he was a professional blackjack player. He also uses these methods to calculate odds when making an investment decision.


In the 1990s, he wrote two books, Everything You've Heard About Investing is Wrong and Bill Gross on Investing. In 2007, the Forbes 400 listed him as number 380. This made him number 897 on the list of the richest people in the world. Forbes also named him as the number 32 most powerful man in the world in 2009. With a net worth of $1.3 billion due to his gambling-like investment strategies that simply work, this is understandable and Bill Gross, PIMCO, and the investors in the Total Return Fund continue to benefit from these strategies.


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