Gross: I Wouldn't Have Hired Bernanke
(Bloomberg) -- Bill Gross said he wouldn't hire Ben S. Bernanke as an advisor. He'd rather read the former Federal Reserve Chairmans blogs and tweets.
"Ive moved on, in terms of my personal experience," Gross said Wednesday in a television interview with Erik Schatzker, the same day his former firm Pimco announced it had recruited the ex-Chairman of the Fed as a senior advisor.
Gross joined Janus Capital Group in September after losing a power struggle with senior managers at Pimco, the manager of the world's largest bond fund. He said when he was at Pimco the firm hired Bernanke's predecessor Alan Greenspan, which was useful for policy guidance. A former Fed chair can provide a sense of what the Fed is thinking about inflation, Gross said.
After a stilting start, Gross has regained his footing at Janus. His $1.46 billion Janus Global Unconstrained Bond Fund has returned 2.72% this year through April 28, beating 87% of comparable funds, according to data from research firm Morningstar.
Gross said in the interview that he hasn't changed his view on German sovereign debt after tweeting last week that betting against 10-year bunds is the "short of a lifetime." He also said the Fed wants to raise interest rates this year to prove it can, even after the economy ground to a virtual halt in the first quarter.