While his legendary career in the bond market earned him the nickname “Bond King,” Gross is no longer optimistic about the very concept that he helped popularize. “Yep, I said it, total return is dead,” the billionaire investor stated in a post on ...

It’s hard to argue with the risks the famed investor sees from rising US debt, but bonds are an important piece of a balanced portfolio.

Gross is also widely credited with pioneering the “total return” strategy in bond investing. This approach expanded traditional bond management by focusing not only on the interest income but also on capital gains, active trading and risk management, allowing for a more dynamic and potentially profitable way to manage bond portfolios.