Average Reviews:
(More customer reviews)Bill Gross it the Peter Lynch of the bond world. The PIMCO money manager has consistently outperformed his benchmarks over the last 20 years. Middleton attempts to provide an bird's eye view of Gross's personal life and uses those perspectives to discuss how he makes money in the bond world. In summary, the answer is total returns, return from the yield on the coupon (think mortgage rate, interest) as well as the pricing on the issue.
The author starts down the path of constructing bond portfolios that span the risk and reward spectrum, but does not provide any perspectives. The book converts to a PIMCO prospectus in the middle of the book and could have been chopped at the editor's desk without losing any of main points and saving the paper in the world.
For those who really want to understand Bill's view on the world, he writes a wonderful thought piece every month that summarizes his views in a very practical and easily readable form. Well worthing reading.
In summary, worth reading if you are a bond neophyte and want to understand how people make money in the bond markets.
Your total return seeking reviewer,
Fred "Govvies" Sanford
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