Interesting People: Bill Gross and Mohamed El-Erian

Day shift leaving, and the night shift not yet arrived.
From the one and only Wikipedia and abbreviated as required:
” Pacific Investment Management Company, LLC (commonly called PIMCO), is an American global investment management firm with over 8,400 employees working in 13 offices across 12 countries. PIMCO is one of the largest active global fixed income investment managers in the world, with over $1.97 trillion in managed assets of 30 June 2014. The company runs the largest bond mutual fund in the world – the PIMCO Total Return Bond Fund, and provides portfolio management and asset allocation solutions for millions of investors worldwide……… PIMCO also has an ETF business, which had approximately $13.581 billion in assets under management, as of Jan. 21, 2014. “
Where did PIMCO come from?
Wiki:
” The firm was founded in 1971, launching with $12 million of assets. Previously, PIMCO had functioned as a unit of Pacific Life Insurance Co., managing separate accounts for that insurer’s clients. In 2000, PIMCO was acquired by Allianz SE, a large global financial services company based in Munich, Germany, but the firm continues to operate as an autonomous subsidiary of Allianz.
….. The firm is known to have coined and popularized the phrase “the New Normal” in the aftermath of the subprime mortgage crisis in 2009. More recently, PIMCO introduced the “New Neutral” thesis to characterize a period of lower but stable economic growth, and interest rates to remain low for a longer period of time. “
And who founded PIMCO?

This post was published at TF Metals Report on September 28, 2014.