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Bill Gross, Co-Founder of World's Biggest Bond Fund, Once Made a Bad Trade

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BILLIONAIRES ARE HUMAN TOO
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Billionaire Bill Gross is human, just like us! Once, maybe twice, he made a bad trade that caused the $1 trillion dollar fund management company he co-founded to not immediately make money! It's true. On CNBC this morning Gross allowed that two of his three most disastrous trades were ones he did not make; namely, passing up investments in Berkshire Hathaway and WalMart... in 1974. Ha! Procrastinator. His third most disastrous trade? Investing in a company called I-Tell back in 1975, which went bankrupt six months later. Since then? Well, it's been $1 trillion dollars in assets under management of smooth sailing.

Below, Gross discusses these disastrous trades with Becky Quick.

POSITION:  No positions in stocks mentioned.

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