Writer blasts Bill Gross' latest column
Bill Gross's monthly Investment Outlook is widely read in the industry for what many think are insightful comments on the economy and the bond market. In his March commentary, Gross discusses quantitative easing, the need for more private capital formation and the like.
But for whatever reason, his writing hit a nerve with a Wall Street Journal MarketBeat reporter, who took him to the woodshed for it. "He fancies himself something of a scribe, and his monthly investment outlook is where he talks his book for a few hundred words spicing it up with some belabored metaphors and a self-serving analogy, or several. But there are a few things that stick in our craw about this month's note."
The writer voices disgust for Gross's anecdote about stiffing a waitress in his youth. "Give us a friggin' break. It's one thing to act like a jerk when you're a 21-year-old kid. It's another thing to brag proudly decades later."
He goes on to criticize Gross's choice of metaphor. "The worst part is when he compares the looming end of the Fed's quantitative easing policy to the Allied invasion of Normandy in June of 1944. ... Just don't do this. Don't compare questions about the future direction of bond yields to one of the proudest moments in U.S. history, a day when somewhere between 2,500 and 5,000 allied soldiers died. (Many of them Americans pinned down by German machine gun fire on Omaha Beach.) Gross should know better. He's a former Navy officer who served on a gunboat during Vietnam."
At another point, he writes: "Please someone, make it stop."
So, what to make of this? Well, the reporter may have decided he no longer has use for Gross as a source. Or maybe Gross stopped being his source before the rant. Perhaps it was just crankiness.
- here's the article