'Bond King' Bill Gross shares his best investment ever — and the brutal bet that lost him 50% in a month
Billionaire investor Bill Gross discusses his most successful investment in pipeline stocks and his worst financial mistake involving leveraged Treasury bonds in 1969. He emphasizes the tax benefits of master limited partnerships and the dangers of high leverage.
Why it matters
Provides insight into the investment strategies and historical lessons learned by one of the most prominent figures in bond market history.
Bill Gross founded bond giant Pimco. Mary Hurlbut/Stu News Laguna Bill Gross shared his best investment and worst investing error with Business Insider. The billionaire "Bond King" said his bet on pipeline stocks has paid off handsomely. The Pimco cofounder said he lost 50% of his savings in a month when he bet on Treasurys in 1969. Bill Gross says he made the best investment of his career only a few years ago, while his worst investing error dates back nearly six decades. The billionaire cofounder of bond giant Pimco told Business Insider by email this week that his shrewdest wager to date was the purchase of a portfolio of master limited partnership (MLP) pipeline stocks around three years ago. Pointing to Western Midstream Partners as an example, he trumpeted the "enormous" tax benefits of these types of stocks.
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