Starting Monday, Gross Trades Against Gross. Should Be Fun for Pimco

http://ift.tt/eA8V8J Imagine Bill Belichick gets hired away by the New England Patriots' opponents at halftime and returns for the third quarter on the other side of the field with every possible wrinkle in his former team's playbook, and you get a rough sense of what it's going to be like for Pimco when Bill Gross starts trading for Janus Capital a week from today. Janus Capital's bombshell press release on Friday morning stated the so-called bond king would start at the firm today and begin trading a week later. He knows every one of Pimco's positions, not just in the liquid market for Treasuries but in the less liquid markets for, say, Italian or Spanish bonds. "When it comes to bonds," the New York Times reported Friday, "Pimco fund managers own nearly everything: commanding positions in United States Treasuries, government-owned companies in Russia and Brazil and every variety of mortgage security."



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