The trials and tribulations of a former Bond King, housing, wealth and how Chinese investors may be moving stocks while the U.S. sleeps.
- The FT’s Robin Wigglesworth sat down for lunch with Bill Gross. Aside from wondering what score we’d post at Gross’ home track at Big Canyon CC in Newport Beach, we couldn’t help but be struck by how the “Bond King” still grapples with the entire “chicken and the egg” question of his career: Was he a great investor who capitalized on a terrific run for bonds? Or did the best bond market ever make him look like a great investor. (Flashback: Gross has been musing on this topic since 2013)
- What’s happening in housing? Bloomberg reports that some of the hottest West Coast housing markets are looking a little softer these days.
- Forbes published its latest ranking of the world’s billionaires, with 21-year-old Kylie Jenner grabbing the headlines, but for those of us without reality TV fame, Herbert Werthheim may be the more inspiring story. The 79-year-old optometrist built a billion-dollar fortune in a more old-fashioned way: by being the greatest investor the world has never heard of.
- Night Moves: No, we’re not talking Bob Seger. The WSJ finds that “a growing horde of Chinese investors who are contributing to large price moves and unusual trading patterns in some U.S. stocks.”
- What’s in store offshore? Barron’s Jack Hough on why the pendulum might be swinging back to companies that find oil underwater, versus those who find it in fracking.