Bill Gross Loses Big on AIG

Pimco wins some and loses some.

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On September 8, bond guru Bill Gross's Pimco Total Return Fund gained 1.3 percent, netting something like $1.7 billion in a single day on mortgage bets placed before the government took over lenders Fannie Mae and Freddie Mac.

Yesterday, the fund lost 1.4 percent, its biggest drop in more than three years, on AIG's failure, according to Bloomberg.

TAGS:
AIG, Inc.
  • Kirk Shinkle

    Kirk Shinkle is a senior editor for U.S. News Money and manages the Best Funds portal. Follow him on Twitter @KirkS or email him at kshinkle@usnews.com.

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