The Bond King: How One Man Made a Market, Built an Empire, and Lost It All
The Bond King: How One Man Made a Market, Built an Empire, and Lost It All
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- More about The Bond King: How One Man Made a Market, Built an Empire, and Lost It All
The Bond King is the story of how Bill Gross, a gambler, changed American finance forever. He turned the bond market into a high-risk, high-reward game, founded Pimco, reshaped the financial system after the Great Recession, and gained legions of admirers and enemies.
Format: Hardback
Length: 336 pages
Publication date: 15 March 2022
Publisher: Flatiron Books
From the host of NPR's Planet Money, comes a captivating and meticulously researched account of how one visionary investor transformed American finance forever. Before Bill Gross earned the title of the Bond King among investors, he was a gambler. In 1966, a young college graduate with a net worth of just $200, he ventured to Las Vegas armed with his skill in counting cards. Despite initial setbacks, including losing $10,000 and facing numerous casino bans, Gross's addiction grew stronger. Consequently, he enrolled in business school to learn the ropes of finance.
The Bond King is a captivating tale of how this young whiz kid turned the once sleepy bond market into a high-risk, high-reward game. Over the course of several decades, Gross played a pivotal role in reshaping American finance. He founded Pimco, one of the most powerful, secretive, and cutthroat investment firms in the world. Through his strategic decisions and innovative approaches, he helped to stabilize the financial system in the aftermath of the Great Recession, ultimately benefiting himself.
Gross's influence extended far beyond the financial industry. He gained legions of admirers and enemies alike, as his ambition and drive propelled him to success. However, his relentless pursuit of wealth and power also led to his downfall.
To fully understand the winners and losers in today's money game, journalist Mary Childs argues that it is essential to understand the bond market. The bond market, in turn, provides a deep insight into the workings of the Bond King himself. Gross's journey from a gambler to a financial mastermind is a testament to the power of determination, innovation, and risk-taking. His story serves as a reminder that success in the world of finance is not just about numbers and algorithms but also about the human element and the ability to navigate complex financial landscapes.
Weight: 503g
Dimension: 244 x 162 x 35 (mm)
ISBN-13: 9781250120847
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