Gross Gives Parting Shot As Palace Coup Approached

As the loud footsteps of the palace guard approach, swords being pulled from their scabbard, Bill Gross new the end was near.  When he made the discovery that a palace coup was about to replace him at Pimco, he acted quickly, making the first move before the guards and their swords reached him. He quickly resigned before he could be fired.

In a letter to colleagues and friends, Gross said he recognized an “imminent palace coup” which he said “meant it was time for me to go.”

Bill Gross a little upset over being replaced in PIMCO

As he reflects on the incident, Gross shows he is a little upset.  Having built tremendous wealth and prestige for those involved with Pimco, a...