Bond King musical chairs: Gundlach replaces Gross on Barron's Roundtable
By Jennifer Ablan
NEW YORK - In recent years, bond investor Jeffrey Gundlach has been outperforming his rival Bill Gross. He has even been dubbed the "Bond King" by the media - a title Gross has held for many years. Now, Gundlach has replaced Gross on a high-profile investor panel.
Weekly financial magazine Barron's said on Saturday that Gross decided to quit its Barron's Roundtable. Instead, Gundlach, who has often been critical of Gross's investment calls, was added to the panel - which meets at the beginning and middle of each year - and he features prominently in the magazine's Roundtable latest cover story published on Saturday.
Barron's Deputy Managing Editor Lauren Rublin told Reuters: "We invited both Bill and Jeffrey to the Roundtable. Bill decided to resign. We missed him."
She declined to comment when asked why Gross had quit and whether Gross would have been aware that Gundlach had been invited.
In its Roundtable cover story, Barron's did not address Gross's absence. It just mentioned him in reference to how his and other 2015 Roundtable members' investment recommendations performed.
E-mails and calls to Gross and a spokeswoman for Janus Capital Group, where he is a portfolio manager, were not returned. Gundlach declined to comment.
The twice-a-year discussions among the investors attending the Roundtable, are turned into a three-part series in the magazine, usually including staged pictures and front-page billing. Each investor provides their predictions for the markets and the economy, and highlights the investment ideas they think will make money.
Dow Jones says Barron's readership, which averaged 436,000 in the third quarter of last year, has an average household net worth of about $3 million. The chance to get extensive exposure to that audience means that a place on the Roundtable is coveted by some investors. Continued...