Motley Fool Money is a podcast from Motley Fool (duh). Unlike the discontinued Motley Fool Industry Focus which was a more "deep dive" format, the Money episodes cover a few topics each episodes and discusses more wide ranging topics.
Episodes usually cover US company developments, market movements, interviews. If you are looking for something light to listen to while travelling to work and to catch up on interesting company developments in the US, this might be useful for you.
The latest 10 April 2022 episode is titled Investing Lessons from the Bond King, an interview with Mary Childs, author of a book on Bill Gross titled The Bond King : How One Man Made a Market, Built an Empire, and Lost It All.
For those of you who do not remember, Bill Gross (dubbed the "Bond King") was a co-founder at the Pacific Investment Management Company, better known as PIMCO, which revolutionized bond investing with its use of derivatives such as swaps and also mortgage backed securities (MBS). In the process it turned PIMCO into an asset management juggernaut, and Bill Gross into a bona fide bond investing superstar whose market views are widely followed. Equally widely followed was his dramatic ouster from PIMCO in 2014, which is probably a story for another post.
The 10 April episode was entertaining and you should listen to it. I will just note down a couple of important lessons that Mary Childs shared from the book.
When the host Ricky Mulvey asked Mary Childs about the ultimate lesson from the book, she says Bill Gross viewed his status as the "Bond King" as a bid for fame and external validation, which can be seen from his obsession with money and returns.. She thinks that ultimately that no amount of money will be able to "fill that hole" and it is more important to reach a level of happiness or contentment via internal validation.
The other lesson is the ability to spot and exploit structural inefficiencies, which she calls his secret sauce, and sticking to his strategies even when they don't work in the short term.
A link to the Motley Fool Money podcast has been added to the Resources page
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