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Bill Gross Braggart

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by Felix Salmon
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Sep 10 2008 12:26am EDT

Bill Gross, Braggart

This kind of crowing is unseemly and counterproductive:

"Our mortgage overweight and the performance of mortgages on Monday gave the Total Return fund its greatest one day relative performance (compared to our index) in its history," Bill Gross, chief investment officer of Pacific Investment Management Co. told Reuters on Tuesday.

Bill, if you've just been handed $1.7 billion on a platter by Hank Paulson, don't go boasting about it to the press. Yes, we knew you were overweight mortgages. But that's a lot of money that you've just made thanks to all of us who pay US taxes. If I were you I'd keep such things a bit quieter.

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