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For a long time, bond investing was considered a sleepy backwater. You bought a bond and just clipped coupons as you waited for it to mature. But then Bill Gross discovered that bonds could be traded. He founded Pimco and proceeded to make a lot of money from bond investing, sometimes in controversial ways.
Bloomberg Opinion columnist Matt Levine co-hosts this special episode of Odd Lots with Mary Childs, who's just published a book on Gross called, “The Bond King: How One Man Made a Market, Built an Empire and Lost It All.” We discuss some of Pimco's most famous trades, whether Gross was a good investor and his legacy to the world of bonds.
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