By Nick Rokke | August 15, 2018
Income Exodus is here… And it’s taking no prisoners.
Bill Gross—the “Bond King”—has lost more than a half-billion dollars so far this year in his bond fund. That makes 2018 one of the worst years of his storied investment career.
Gross earned the Bond King nickname because of his impressive performance. His PIMCO Total Return Fund earned almost 8% annually over the 27 years he managed it.
By the time he left in 2014, the fund had $293 billion under management… making it the world’s largest bond fund at the time.