and i visited bill gross in california for years ago, just as he was starting his second act at janus hendersoni did not know what to expect this time. gross, always provocative, never dull, was full of surprises. ♪ erik: is this really it for bill gross? bill: well, depends on your definition of it, i guess. it is it from the standpoint of managing institutional money. i have a large amount of family office funds, quote unquote. i have foundation funds of my own, lots to do in terms of investing. but in terms of earnings fees, managing institutions, yeah. it's it. erik: you really are calling it quits after almost 50 years of professional investing for others. bill: well, yes. and the question might be why? that's what you are implying. or begging -- erik: we can get to that answer as slowly as you like. [bill laughs] bill: i just thought it was time. for me, it was a situation where you just wanted to be able to relax a little. aside from the unproductive trades in the last few years, i would check germany and japan twice a night, usually at 12:30 a.m., sometimes at 3:30 a.m. and then up agai

and i visited bill gross in california for years ago, just as he was starting his second act at janus hendersonow what to expect this time. gross, always provocative, never dull, was full of surprises. ♪

-- janus henderson.irm has renamed its fund and appointed a new leader. the bond king and his successor both talked about risks and returns on bloomberg television this week. let's start with erik schatzker 's exclusive interview with bill gross at the california office. the investor who made his name by beating benchmarks says the year of our performance is -- outperformance is largely over. >> i think there are things that still exist in the market that could generate -- the probabilities of generating in the same way are much less than they were. >> so the era of outperformance isn't over, it's what? >> well, it is certainly diminished. if only because the bonds are harder to even the stock market, in the bear market. it is easier to say 0% interest rates have gone, and i can do no better, but a 10 year treasury over the past four years, it could be simple, 30 or 40 points. and they are heading to the nine year to produce structural outflow. 10 years don't roll like that anymore. now 14% to 15%. in pa

caroline: that was the exclusive interview with janus henderson portfolio manager, bill gross, who retiresbloomberg. ♪ romaine: we are going to talk amazon and beer. amazon plans on opening dozens of grocery stores and u.s. cities, according to the wall street journal. theirve would expand footprint beyond whole foods and maybe explore the idea of purchasing a regional grocery store chain. here with more is craig jim owner -- craig. oft would be the purpose expanding beyond that brand, particularly if you're going to acquire something? >> your question is what a lot of us have. one thing would be to sell mainstream products that are not allowed into whole foods. when they bought whole foods, the feeling was maybe they would lower the standard. people want organic foods and also really like diet coke and doritos. that is well foods got into trouble. i go to walmart and go to kroger, i buy the mass-market stuff i want. you can't do that at whole foods. this seems to be a mainstream play. joe: does amazon have a theoretical edge? setting brand aside, it is a data or distribution edge? what ca

does it explain why his second act of janus henderson was something of a dud? matter of fact, i have asked burgers, a -- ger's,. and we compartmentalize. i i was dumbstruck. it was the first time he ever revealed that. turned out he found out that he had it late in life. >> reading a book, right? erik: reading "the big short." one of the heroes of the book finds out that he has aspergers while investigating his son's aspergers. that is how bill gross developed the idea that he might have it. he was diagnosed by a psychiatrist and then went on a voyage of self-discovery, mentally, introspectively. who am i? does this explain how i am? does this explain the way i interact with people are have trouble with interacting? fascinating for someone like me and perhaps the rest of us, does it help to explain his success? why don't we play in next are -- an excerpt of that part of the interview. experience, it has allowed me to stay at 30,000 feet. basically, the condition is one of which is sort of up here, and as other people will know, when i come into a room, they say