![]() ![]() And then there’s The Bet, several hundred billion dollars spread across thousands of individual securities in a maze of futures, swaps, mortgages, and enough acronyms to fill a dictionary. As we wrap around curves, he speaks freely about his latest moves: a coup on eurodollars, a $250 million profit the firm made shorting Argentina bonds before anyone anticipated a credit default. Gross is at the wheel, his unknotted Ferragamo tie hanging like a scarf around his open-collared shirt, a glass of springwater in his free hand. Minutes later, we’re flying down the Pacific Coast Highway in a night-black Mercedes CL500 on our way to the Newport Beach offices of Pimco, the giant investment firm where Gross serves as chief investment officer and resident sage. This is, after all, a man who oversees the investment of more than $350 billion in bonds–and whose words can spark rallies and ruptures in a $14 trillion market.
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