The Bond King: How One Man Made a Market, Built an Empire, and Lost It All
Book by Mary Childs
DETAILS
Publisher : Flatiron Books (March 15, 2022) Language : English Hardcover : 336 pages ISBN-10 : 1250120845 ISBN-13 : 978-1250120847 Item Weight : 1.11 pounds Dimensions : 6.55 x 1.4 x 9.55 inches Best Sellers Rank: #10,782 in Books (See Top 100 in Books) #1 in Bonds Investing (Books) #5 in Economic Policy & Development (Books) #21 in Business Professional's Biographies , From the host of NPR’s Planet Money , the deeply-investigated story of how one visionary, dogged investor changed American finance forever. Before Bill Gross was known among investors as the Bond King, he was a gambler. In 1966, a fresh college grad, he went to Vegas armed with his net worth ($200) and a knack for counting cards. $10,000 and countless casino bans later, he was hooked: so he enrolled in business school. The Bond King is the story of how that whiz kid made American finance his casino. Over the course of decades, Bill Gross turned the sleepy bond market into a destabilized game of high risk, high reward; founded Pimco, one of today’s most powerful, secretive, and cutthroat investment firms; helped to reshape our financial system in the aftermath of the Great Recession―to his own advantage; and gained legions of admirers, and enemies, along the way. Like every American antihero, his ambition would also be his undoing. To understand the winners and losers of today’s money game, journalist Mary Childs argues, is to understand the bond market―and to understand the bond market is to understand the Bond King. Read more
REVIEW
This was one of the best books I have read in the recent past that held me enthralled on the shennanigans of rich and powerful people. There is a tendency in our society to place successful people on a pedestal as if they are God (Elon Musk, Bill Gates come to mind). This book does a great job of showing these folks are just ordinary humans who have a number of negative sides to them. No doubt Bill Gross is a genius when it comes to investing but he is also a shallow individual that has an overblown ego... Couple of what I felt were flaws in the book -- (a) to certain extent Mary depicts Pimco and the other characters there to be neutral or great folks. I am sure they were no saints in this story. In all fairness Mary does in the "Author's Note" talk about issues at Pimco including lack of diversity and the debauchery of the men drunken with power at Pimco (b) the story jumps back and forth in the timeline, and I found that to be disconcerting... I truly enjoyed the book -- although not as much as Mary's stories at Planet Money!!!!!
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