i don't care pimco manages it some xyz company. i take it on pimco.stand you talking about it every day at 4:00 and give it to another manager and buying long 48% 10-years. >> my point is pimco's pain is going to be blackrock and vanguard's gain. >> to a much lesser degree, though. rick's point is well taken about the spit bucket. the inflows have been in the hundreds of millions. up until this point. the last figures i saw. >> in a week. >> sure. >> only in a week. >> inflows today i think 1.65 billion and that's obviously a drop in the bucket of the 23.5 pimco lost. however, the fact it doubled from august to september is notable. >> sure. >> you may see a dispersion of funds. >> to fol he on the point of not wanting to see the boring bond manager in the media and the midst of firestorm of publicity, if he's correct on that, which he may well be, and i think the real risk is to janus shareholders, they made a conscious, public decision, done with star managers, going to be a team approach. they were never going to play up the gunslinger again and hi

what you hearing from your friends at pimco? >> pimco has had battle station alert.ryone is had had to pick up the pieces of bill's departure. >> what does that will station alert at a place like emco amount to? imagine harder to anyone working harder than arriving at the office at 4:30 a.m. and leaving at 10:00 at night. a lot of consultants and clients who might have a knee-jerk reaction to take assets away from him go, this is their time to convince them that the process, the structure is in place, then it works. that it will outlive bill gross. he thought he was the best manager he ever worked for. goals, he said direction, and if you met those goals you were rewarded handsomely and if not he wanted to talk about it. not a commonthat perception of him at pimco? >> there are a lot of people of various views. every thing you mentioned is true. i'm not discounting that. there were other externalities that would cause some people to think that maybe they should consider new pastures. i am certainly want of those. -- one of those. do you think may be an easier atmosph

what do you make of pimco's future? >> well, for one, pimco total return is an unbelievable story. as a company is an unbelievable story when it comes to income planning, and certainly bill gross is the lead without a doubt in the industry. pimco's loss of bill is a huge loss and for professional portfolio managers like myself, i do take it very serious. if we do watch the management of a fund, not the fund name. so when he leaves his funds along with it is his performance. they have to start over again. but the team that follows him is very experienced. gerri: are you staying with pimco. >> for the near term, absolutely. we're watching it very closely, but we're following it very closely. gerri: well, good stuff, guys. thanks for coming on tonight. thank you. >> thank you. gerri: and still to come, my "2 cents more," but first who is really behind all these massive cyber attacks? the former director of homeland security joins us with some answers. i'm only in my 60's. i've got a nice long life ahead. big plans. so when i found out medicare doesn't pay all my medical expenses, i lo

it's a little less aggressive than pimco's return.t works well for investors who are concerned about where interest rates may end up. gerri: total return fund institutional shares. let's talk about oppenheimer. they have a core bond fund what are they doing with their a shares there? >> they too are looking at fees and they're definitely positioning this product to steal market share. they're lining up to see who is going to be left after a few more months of outflows from pimco's total returns and who will be the recipient of the greatest largest. gerri: they're charging -- for institutional shares, but what's interesting, i think is janice. because this is why bill gross went to work. boy, that fund is expensive. >> (?) yeah, are you talking about the janice fund? gerri: yeah. >> yeah, it's really not a big fund. couple billion dollars behind it. the one he's taking over is called unconstrained bond fund it's about at 65 or $70 million or so and it's definitely not something that people would turn to once they left pimco total retur

this is a great time to be pimco. we hope those hedge funds call us because we will be taking the other side for our clie nts. >> mark, absolutely great having you on this morning. you can have matt and i talked to all day. mark kiesel, the chief investment officer for a reason of global credit over at pimco and the guy who gets to live in california. >> what a lovely place, newport each. i would work for a pimco even. >> even? maybe even more now. >> coming up, what will the fed do next? we will talk with st. louis fed president james bullard. why not go to the source? we will do that come a bloomberg's clues of coming up. ♪ >> welcome back to "market makers." we are seeing u.s. stocks roback over down to session lows again, now down about 174 points, and has been down to about 205 minutes ago. the s&p 500 -- remember when i said we were unchanged for the year? down 1.25%ger, it is an hour into the session. >> it is not matter for the year because time horizon, very few investors role like harry schilling these days.

. >>> pimco, the worlds largest fixed income asset manager says it is not changing anything. scott mather, one of the pimco managers running the total return fund says the fund is well positioned and that investors should not change the strategy with the sudden departure last month. >> no, we're not changing the fund, as you know it is a team process here at pimco, i and my colleagues have been involved in forming the investment themes which are at work in the return fund. >> pimco said the return fund saw more than 30% outflows in september, about 10% of the total assets. >>> okay, new grads, the time is almost here for many of you to start paying back your student loans for 2014 graduates. the grace period is about to expire. it is time to get a financial plan. sharon epperson looks at repayment options and the consequences if you don't pay. >> it is the bill that i don't like looking forward to when it comes. >> reporter: for this man, managing means managing his own expenses, most of them. he admits needing help on one of his biggest bills, his student loans. >> i owe lik

around to talkk about the departure of pimco's bill gross.have named their new ceo who will have to figure out what to do with pimco. hans nichols joins us for more. can we put this together with bill gross? no, they sayss they ask michael d men to stay down -- stay on through 2014. some board members wanted him to stay on as ceo. the wall is when you are 60, you have to step down. make the case that this shows more confidence from ali on's that they are not -- alliance -- orh bill gross pasta parts they have had some outflows. in the last week they had 23 billion in outflows from that pimco fund. there are going to be some changes. when you look at the percentage that they are relying on from pimco, it is higher than you expect but not that high and still fundamentally an insurance giant. numbersook at these when you look at the breakdown. your property insurance that had 1.3 5 billion euros that was up 14% on the year. millionnsurance was 984 up 47% and asset management which would include pimco, 675 euros, down 16% for the year. they are s

were you shocked with him leaving pimco?s surprised what i was not surprised about is that they were able to draw any deep bench of talented people who have established track records, who have industry awards and have been part of the process managing more than 80% of the assets at pimco. his departure, the fact that it happened and how it happened was a surprise, but what was not a surprise was the bench and a strong team led by dan iversen. they are superb. him and hisabout team, we spoke with bill powers, someone you know. this is what he said about the bench at pimco. >> the cast of stars include many fixed income managers of the year. mark was a fixed income manager of the year. ,ou have a number of others paul macauley is still at the shop. i do not see this as a mac that and a from credit widening event. i would not make that conclusion. >> would you agree? >> if i started lifting specialist and you people, we would see for the next two hours. for me give you one story that speaks of this. the head of the mortgage des

so says the pimco head of management in germany. he joins countdown after the break. ♪ >> time for today's company news. goldman sachs was the worst performer on the dow. that is after the bank reported a decline in trading revenue in the third quarter. the cfo said the decline was not a big issue even though competitors reported a rise in their trading revenue. eliminate plans to around 20% of their german workforce. that is according to people familiar with the matter. the redundancy is part of cost cutting plans following the completion of the $11 billion earlier this+ month. and singapore air was planning to boost their stakes in tiger air. they will purchase more of stock to boost its share. this came as tiger reportedly biggest lost ever. s. big moves in market ashould investigate investors navigate the markets. pimco head of portfolio management in germany joins us. great to have you with us to try and help us through the meyer. -- mire. what a range. for bonds. 1.86% to higher. what is going on? >> good morning, manus. what

. >>> pimco's make chief investment officer and ceo tell investors the world's largest fixed income asset manager is moving forward without its former manager, bill gross. >>> if it isn't broke, why ford is making a big change to its best selling vehicle for the past 43 years. all that and more on tuesday september 30th. >>> good evening, everyone, they say that breaking up is hard to do. but not at ebay apparently. the on-line ebay auction says it plans to spin up its lucrative pay pal division into a separately traded company sometime last year. the announcement is a drama immigraic reversal f ebay would benefit from a split. investors lining up to take part and shares up 8%, lining up for what it means to ebay investors. >> ebay's corey e commerce payments will stand on their own, a move the company believes will make sense, ebay only 15% of the business. >> as we continue, looking forward to 3.5 years, we think the competitive position and the competitive environment of commerce and payments are going through accelerating change that creates new sets of opportunities and challenges fo

. >> and pimco tells investors just how much money fled from the flagship total fund after bill gross walked out the door. >>> more evidence today of how much the sudden resignation of of bond king bill gross from pimco shook up the fixed income market. today, pimco released data for september, outflows for the month at the signature total return fund were nearly $24 billion, huge, the largest withdrawal was on friday alone, the day that gross resigned. >>> the market plunge today is not the only worry on the minds of investors after officials in texas confirmed the first case of the ebola virus diagnosed here in the u.s. so could the fear factor surrounding ebola hurt the u.s. economy? steve liesman has more. >> we do not believe there is any risk to anyone who was on the flight at that time. >> health officials may say that, but i didn't stop wall street today from selling off airline stocks. one index posted 3% on fears of reduced airline traffic after the announcement of the first eb case in the united states. >> given the recent developments of the ebola cases, hitting the shores

melissa: more bad news for pimco. charles schwab is dumping pimco's total return fund from target date retirement fund. charlie you have another fun fact about pimco. >> yes. there is a lot of consternation out in the market whether to keep this i can tell you, brokers at morgan stanley that are just on the edge of telling their clients to blow out of this. melissa: i want to mention people the reason why you care about this story, millions and millions people, probably you, cops, teachers, firefighters you are invested in pimco through your retirement accounts. this is your money. go ahead. >> this fund is a huge bond fund, if they have massive sell interest rates could go up. they did one day. when bill gross resigned a lot of people thought it was bad thing. when i heard there were so many happy people at pimco on trading floor of newport beach at headquarters they started doing congo. melissa: come on! >> started doing a congo. music, conga lines. lasted 15 minutes. melissa: conga, right? >> whatever. they had the

billion in assets flowing out of pimco as well.u telling clients who own the total return bond fund? >> a lot of clients own that whether in 401(k) or whether in their ira's because it's a buick with to us fund. guess what we're telling them, gerri? this is probably the best thing to happen in the fund in last five years. i know that sound crazy but i'll tell you why. you led into it. bill gross was a star fund manager. he went on crazy moves and some which didn't, and he underperformed the market as far as bond go last four years. i think what happens with the star fund managers, gerri, they fly too close to the sun sometimes and think they're immaculate and get hurt. that is not what you want on a fund to get stable, steady returns. gerri: buy, sell, hold, pimco total return? >> i'm buying it. i don't totally dig the pr job they're doing. i don't quite believe the story. issue of team work. dan, portfolio manager stepping in there. he is running pimco income fund behind the scenes doing very well year-to-date. he is well-equipped

pimco. they have a $23.5 billion problem. fell from uch it the return fund last month. many expect the withdrawals to continue following the depart cher of bill gross. ftse down .2%. dax down .3%. anus cranny has the open for us at the touch screen. >> you're right. that is the critical part of the agenda. european equities. the futures indicate a lower opening. he u.k. down for a fourth day. we'll look at the construction purchasers managing index. > treasuries are rising. let's refresh your memory about hat is going on. .6%. the s&p was down 1.3%. european equities are declining. let's see what is actually going on. tui travels. we spoke with the c.e.o. he said we're raising our guidance for the rest of the year. operating profit will rise by 9%. due to a good summer and high season and strong late bookings. let's take you into the three stocks to watch. oil up here. oil really is beginning to come under pressure. phillips is down. the light making company and healthcare company. they have been fined $466 million for pat ept in fringement on a fingerprint technology t

and that is what pimco is about.that's what pimco is about. >> the mandate will continue to be very focused on performance and we're confident that we'll be able to deliver on those returns that our clients expect. >> "the wall street journal" now reporting that huj funds are trying to profit by shorting some of the biggest holdings in the pimco total return fund, thinking, guys, the money is pulled out, you have more stuff, what happens if there's more of something, prices go down. joining us now with a guy who knows something about trade, greg zuckerman, special writer at the "wall street journal," covers better than anybody these kinds of special situations, the mortgage prices. good to see you, again. i dig the beard, man. >> good morning, yeah. tell me wife. >>> this is an unusual situation. this is not like the mortgage crisis where there are, you know, hundreds of thousands if not millions of these types of instruments out there. how big could this sort of -- i don't know what you call it, anti-pimco trade act

the exit of william gross from pimco.xit of one d.ll ou all aren betty liu has an important program today wrapped around jobs report. alan krueger will join her. >> allen was with us for the last jobs report. he has been reiterating this stance that we have not reached escape velocity yet. to create jobs beyond that average 200,000 we've seen. this is mohammed's first interview since bill gross announced that he was leaving pimco. shocked the market. >> mohammed left pimco seven months ago. >> the start of this year. another shocker to the market. we will have our first chance to talk to mohammed about the situation. not just bill gross, but about pimco himself. advisor.chief economic he is very much in the know there at that firm. we know that for now, he's not going back to pimco. knows a lot of the players. we will ask him what's going to happen with the firm. >> they're going through some changes. they just announced that the ceo is stepping down. this was to land anyway because the ceo was due to retire. anyway.ed as

andhat was mohammed a larry , the former ceo of pimco.elcome back to "bottom line," i'm mark crumpton. to my guest,k welcome. is the ball in the fed's court? >> i think the fed is going to be looking at the number and digesting it. i don't think it is going to move that much one way or the other in the short run. of targets, and they are going to be focused on what is underneath those labor market numbers. >> david, what more information to they need? >> they probably need a string of six months with revisions. the key about this report were the revisions. the revisions were prior to three months, they were good. the revisions give you some additional confidence that we are creating jobs, that to a thousand plus, and the momentum is likely to continue. >> do you always take a report like this with a grain of salt? for the past couple of months we saw those numbers. let's keep in mind they are probably going to have to make revisions, that could change things. >> we talk about confidence. this, thecase of confidence will suggest plus or -9

now in september. 25.3 billion left pimco tr the whole month, not just the day he left.ay of redemptions was september 26th, the day the bond king left the premises. what does this mean for the bond market and your money? we have somebody you should listen to, james camp, eagle assets management, your quick thought of that day, when bill gross left the building. >> it had become intriguing for the bond market to have a cause celebre if you will or a little "people" magazine moment. the bond market isn't that interesting. what is important for us at eagle is you had an unbelievably successful franchise for a number of years, and losing the founder matters. what's more important is what do the flows and what do the unwinder, the folks that inherit the portfolio do to navigate, but in terms of being a large size, more problematically so. that's what we're looking for. what's going to come to sale that we want to buy. liz: i have to ask one more question, you have the "people" magazine moment, which is very rare for the bond market, which tends to be quiet and low grade when

x pimco boss new job.e learned that pimco lost a massive $23 billion following gross out of the door. new fund has $13 million of assets. going from the -- [indiscernible] we will bring you more on his new job. you can follow me on twitter. ♪ >> france is not finish. londonme minister hits to counter that in the french are hopeless and downbeat. the comeback of the century, -- the second place forcing a runoff with the president. hp had's for a breakout. the tech giant is said to split into two. good morning. you are watching "the puls

pimco is 28% of their net profits? you are a brave man but we like brave.e big 4.25% dividends earnings. we do by individual shares but etfre a big customer of the world and fund world. >> pulling money from the pimco bond -- >> it is a matter of public records. i know there are some in europe. that is more of a u.s. story. i can't speak for the whole of them. in terms of my world, the holdings in pimco funds that we have which are public the -- publicly available, we intend to hold. as it stands to day, based on what we know about the deep bench and the credit orientated comfortable ine orld holdingr w the investments. >> they have strengthened. the total return you, bill gross's fund, have bought into bill gross. no supplies. they put a talented team in their. you bought bill gross. but it had fallen by $70 billion in the last year. init sold in the u.s., -- europe, but it is a u.s. oriented product. the other products, global high yields, the u.k. credit fund, those are quite distant. just like other big firms like black rock, they also have deep inches

pimco says the largest took place last friday.the total return son -- return funds assets. investors had withdrawn 56 thousand dollars. 55 percent of rivals over the past year. after the hour, which means bloomberg television is on the market. check out futures europe. did see a gain of s&p and dow futures. the dow lost 238 points yesterday. well overs unchanged 1%. ♪ >> we are 30 minutes from the opening bell. you're watching "in the loop." i am matt miller in for betty liu. yesterday and 1% the dow off 200 38 point. the ecb president mario draghi says a new asset purchasing plan .ill help push inflation is related tos bill gross unexpectedly quitting last friday. it would seem likely. by thewn ceo defeated executive ollie data. closelyfficials are monitoring a possible second ebola patient in sizes. close contact with the first person being diagnosed in the u.s. chewed in isolation in a dallas hospital. goal company soaring so yesterday. it is interesting, normally fda tests would take months or years. that would not likely be t

here you are versus another guy with a total return fund and pimco's return fund. what kind of response has billrock had since announced his departure to janice just a week ago? >> we do not talk about daily flows and what we see day and and day out. i run thisand together and he has some pretty incredible calls. we have been very happy with what -- with how flows have been. it would be surprising if low stay consistent. said no biggie, who cares. >> it is a great firm and pimco's going to run a lot of assets going forward. you think how big the fixed income market is, it is $38 trillion. people focus on what is going to happen coming out. fixed income markets are not going to go away. is whatring assets pimco does for a living, what blackrock does for a living, what you do for a living. has there ever been an opportunity like this to grow assets in this asset class that exists right now? >> fixed income people are trying to work through today. they invest in the equity market. what do i do with my fixed income? today we believe you have to be tactical and how you

we talked about pimco a lot of people running out of pimco right now.ople about the bonds side of the of their portfolio. what should they be doing? >> a lot of money has come out of the pimco bond fund. and i think there is a reaction and competitors are going to be sweeping up a lot of those dollars. a lot of those dollars haven't been allocated yet so these competitors are still looking for those dollars. there's an opportunity in fixed income, in the short duration, you want to stay short. there's interest risk going on right now. which adds to the volatility of the market, and people are concerned. gerri: anthony, to you i want to read you a quote from bill gross. he said it's time to say bye-bye to fat returns. returns are going to be lower than the double digits of the old days. it's too bad for janice, it's too bad for investors. do you agree with that? >> i don't know what context he meant that. i think going forward if you have a long-term approach to your portfolio, i think -- i can't say whether you're going to have double digits or not. wha

we'll be joined by pimco cio and director of sovereign risk. looking forward to that conversation, go shortly. let's turn our attention to some the company news. hewlett-packard is said to them the verge of splitting into two. part of an effort to redevelop. stepwith more on this huge is caroline hyde. meg whitman said i am not doing this and here we are. >> a deja vu. back to the future. she came on board and sellable cannot split the company into two. -- gave an interview was saying no one understands pcs like a down. crate anotheru division, you will have to crate the whole thing. she says too difficult. another division, you will have to create the whole thing. chairwoman of that particular unit. the future, side is the enterprise, the cloud, the parts they have been investing in. what they used to do. thatill be the ceo of units, the overall technology units which brings in about $56 billion per year in terms of sales. it is resurrecting the idea they had in 2011 that things did not go smoothly as a meg whitman wanted. she was brought on b

we always have been here at pimco.the key focus of every management team. >> pimco's ceo douglas hodge tells cnbc the company is moving forward and clients are standing with them. listen in. >> and we've lost that tape, but we will give you an update on european markets now. european markets have been broadly flat today, slightly in the red. the ftse 100 is the main laggard down 40 basis points, italy down, as well. this is partly based on the manufacturing pmi that came in lower than expected. >> u.s. futures implying a lower open now. s&p 500 down about 1 points in premarket trade. dow jones, nasdaq also lower. this coming in after the dow transports index posted five consukter quarter gains. the s&p 500 logging seven quarters of gains, up 38% during that period. let's get you a look at the rundown. what to watch this trading day. the september adp employment report is out at 8:15 eastern tim. forecasts call for an increase of 209,000 in private sector payrolls versus 204,000 in august. at 10:00 a.m., we get the sept

>> as our heritage goes back to pimco, the founders all came from there. we've seen a lot of fall activity. we got our sector specialist together as we're a team. we made sure to prepare with the flows we're seeing. the flows remain pro-found. we're positioned to take that money in. we're not going to change our style of managing money. we're basically just -- we've always managed the firm for growth and we're prepared for that growth. >> laird, thank you very much. nice to see you. >> thank you. >> doug swanson, thank you as well, from jp morgan. >> thank you. >> sue, down to you. >>> let's check the markets. ben willis a few minutes ago, i said what is it going to look like into the close? he thinks it will be difficult. the dow 260 down, the nasdaq down 64, russell 2000 down 2% or 20 points. the market coverage continues with the yield on the ten-year yield at 2.3%. back in a moment. we help forward-looking companies run better and run different - to give your customers every reason to keep looking for you. so if you're ready to see opportunities and se

the pimco total return fund. good to have you back on street sign. give us your reaction to what it means to investments that h hi, mandy, great to be here. thank you. yeah. no big surprises in terms of what the fed said today. i mean we must remember that goal number one today was just to pass the major milestone if you will of winding down quantitative easing after years and years of quantitative easing after talking about tapering for the last year and a half and to do no damage. beyond that there's no surprise they kept in the statement words with recollect to the considerable time period. they had to acknowledge the obvious, which was that the labor market's been improving faster than they thought and clearly faster than it has been over the past few years, and they also had to acknowledge that near term headline inflation will be lower as a result of the significant drop in energy prices. but that doesn't significantly alter their view with respect to long-term underlying inflation trends. that's more determining by the state of the labor marke

that is why pimco says it is a no-brainer to buy the dollar. the germans, spaniards are putting their money into u.s. treasuries. we will be looking at all the stocks of little bit later. caroline, i am going to bring you the details of that french data this morning. miss, miss, miss. at 47.3.ring pmi services pmi at 48.1. we were looking for 48.3. the composite comes in at 48. we were looking for 48.7. that is lower of across the board, that is contraction territory. look out for the german numbers in 28 minutes. the other big story is tesco. is earnings report shows it worse than we thought. first-half profit was overstated by 263 million pounds. the chairman is preparing to step down. joining us is sandra bernstein. bruno covers european food retail. before that, the supply chain director for tesco asia. the stock is down about 4% as we speak. 263 million overstatement, more than expected. the chairman is on his way out. do i think it could have been worse? >> it could have been worse. it is a big missed opportunity. you look at accounting,

now is confirmed by pimco.oney flowing out of their firm as a result of bill gross leaving on friday. a specific number that they have now confirmed. $23.5 billion left in september. that is all of september. but of course, most of it was concentrated on friday, on that one day. 23.5 billion. they say the largest outflow took place on friday, the day bill gross quit or whether he was about to be fired we still don't know all details there. they say the outflows over next two days, monday and tuesday were considerably smaller. so again, pimco confirming what you heard here first on fox business. liz: david, we've been talking so much about which areas of investment like the airlines have been getting hit by ebola scare. hotel stocks falling into the red on concerns over ebola arriving in the u.s. david: let's go back to nicole petallides on floor of new york stock exchange with details on that one. nicole? >> dave, liz, this goes into concerns about what is now an epidemic, whether it could be become a pandemic,

money might be flowing out of pimco, so far it is not filing bill gross.as taken andfund 66 milling dollars, a fraction of the $23 billion that has left pimco since his resignation. the metropolitan west total return has taken in $1.5 billion. nfl owners approved the sale of the buffalo bills. . $1.4 billion.a, surpassing the 1.1 billion paid for the miami dolphins in 2009. those are the top headlines. >> studying. >> it is a lot less than what mr. what's his name from microsoft paid -- $2.2 for the clippers. >> the buffalo bills. >> $1.4 billion. >> wow. >> incredible. >> olivia sterns on the trip to india. the facebook cofounder is in india attending at two-day internet.org summit aiming to make internet access more affordable. he is likely to meet narendra modi. here are zuckerberg's comments on india's computer revolution. have embraced science and research and education, the next generation here has the opportunity to define the future. and bring india to the world and the world to india. key to this next big opportunity is going to be a bracing the i

a bad year for pimco continues.een trying to stay in -- stem the tide of prevention since losing bill gross. pimco is running a total of $6 billion in funds. are the new managers. the number two u.s. health insurer raised its profit forecast. earnings per share for the third quarter excluding one-time items came in at $2.32. analysts were looking at $2.26. wellpoint is adding patient protection in the vertebral care act. -- in the affordable care act. $6.5 billion project called for two new skyscrapers and 15,000 more employees, but a plan ran into roadblocks over subsidies and purchase plans. >> joanne wilson is with us today, chief executive officer of gotham gal ventures. of has seen the value science, technology, engineering, and mathematics, boy things that should be girl things. it's the hot topic today. i love bill bennett's book. forget about the politics, that there's got to be a balance. describe the joanne wilson balance in education. >> stem is incredibly important. not only does every kid understand tha

pimco, thewn from firm he founded 40 years ago.thought departure. >> i was surprised by what i was not surprised about was that they were able to draw on a deep bench of talented people who established track records and have industry awards and who are part of the protests. bill's departure and how it happened was a surprise. what was not a surprise was the incredible bench and very strong team. i work with these people. they are superb. >> so he is in a good -- in good hands. covers pimco for us and joins us now. hearingf, what are you about money flows? >> it is an open question. people have an eye on this here it one of the main things people are debating is the size of the funds. is that an asset or a liability for him? he draws ideas from the traders over here and over here. to what extent with one trader will he record clay whatever performance he has enabled to have with a smaller fund? if you're going to change your money over, you want to commit to that. if you are looking at a 70-year-old bond trader with only one, that i

he was the head of pimco's etf return product. he will have a lot of say in how this one is going to be run specifically. bill gross will have some way of managing this fund. etfle want to boost presents. >> much more aggressive janus under bill gross already. back and getstep more perspective on the markets and how they are trading, particularly after the selloff we have seen. european stocks and futures are rising. julie hyman, put a doll in perspective -- put it all in perspective. >> it was sort of a remarkable week. it looks like a turning point in terms of sentiment and where we saw trading. german economic data, chinese economic data, profit warnings from some relatively small tech companies in the united states that caused a ripple effect. the s&p 500 down around 3% for the week. sow $1.5 trillion off the value of u.s. stock markets. the s&p encapsulating that. if you look at the world index, you see emerging markets also falling. definitely, a lot of concern among global stock markets. illustrating the interconnectedness

they would like to spread money around the world in a 100 trillion dollar market. >> what does pimco expect the fed to do in the next cycle? >> the fed for various reasons -- in 1995, it raised it to 6.5, 2000, to 6. ish for the neutral rate. numerous reasons the fed cannot go high. the economic cycle is five years long. the time they start raising rates, it is six, in two years, it is eight years old. how many more car cells will there be enough time? moves its rate, it will be acting with its balance sheet. it will not be buying bonds. it will be tightening. the amount will be massive when combined with the balance sheet actions as well. speaking of fed, in our last minute, talk to me about how wall street is going to interpret the language. people are always looking at the language in the fed statement. what are you expecting? >> there are a couple of lines that people are looking closely at. there would be considerable time chewing the end of the asset purchase program and a first rate hike. we are not sure when that is. stanley fischer said it is between two and 10 months. the e

of audi and of course pimco. they have a $23.5 billion problem.e return fund last month. many expect the withdrawals to continue following the depart cher of bill gross. ftse down .2%. dax down .3%. anus cranny has the open for us at the touch screen. >> you're right. that is the critical part of the agenda. european equities. the futures indicate a lower opening. he u.k. down for a fourth day. we'll look at the construction purchasers managing index.

also a record $23.5 billion were pulled from pimco.the large estes daily outflow happened the day bill gross announced his abrupt departure from the firm. then starboard is offering to acquire the remaining reald for $12 per share in cash. premium of 29% to yesterday's closing price. values the company at about $540 million. >>> the first confirmed ebola patient in the united states was initially released from the hospital before his diagnosis. that is raising some major red flags with the country's preparedness for a pandemic. check out the cover of "time" magazine. it's titled "chasing ebola" we're joining with more from dallas. >> good morning, becky. right now thomas duncan is the only case in the u.s. with ebo a ebola. officials are monitoring about 12 to 18 people he may have come into contact with when he was sympt symptommatic or since he got here. the patient had come to the hospital two days before he was admitted and placed into isolation. that's despite health officials saying they had protocols in place including a checkli

is he heading back to pimco? take on bill gross's departure, the future of pimco and how investors can keep their money safe in this market and how i should stick with the bengals. author vicki ward is set to join us. liar's ball is about the -- it's an inside look at the drama behind the sale of the gm building. >>> as we head to break, a quick check off what's happening -- >> jackie chan was the monkey. >> who? >> jackie chan. >> we know someone of -- that was easy for him. when change is in the air you see things in a whole new way. it's in this spirit that ing u.s. is becoming a new kind of company. one that helps you think differently about what's ahead, and what's possible when you get things organized. ing u.s. is now voya. changing the way you think of retirement. tdd# 1-800-345-2550 even on the go. tdd# 1-800-345-2550 open a schwab account, and you could earn tdd# 1-800-345-2550 300 commission-free online trades. tdd# 1-800-345-2550 so if you get a trade idea, schwab can help you take it on. tdd# 1-800-3

that was the month that grows and out he was leaving pimco. in an effort to clear his name, adrian peterson wants a trial on child abuse charges that have been made against him. he may go before a jury in texas in the first week of december. a london judge has ruled that still ivs cheated to win more than $12 million in a form of bacarat. coming up next, nicole miller and coco chanel. well, not live coco chanel. we know she is a fashion icon. behind have the author the book with the details of this fashion legend. >> this is "taking stock" on bloomberg. when you hear the name coco chanel, what comes to mind? maybe a simple black dress inspired by men's fashion, perfume. coco chanel's influence on fashion is instantly recognizable. her life is the focus of a new book called "mademoiselle: coco chanel and the pulse of history,." joining me is the author of the book, rhonda garelick. i want to find out what made you want to write this book. >> a lot of people ask me why after so many different bios that i did undertake this. i don't think that ma

pimco lost $20 million the first day that bill gross announced he was leaving. his unconstrained -- >> i believe his unconstrained bond for dennis is about 25 million. it will be interesting to see whether or not bill gross can draw all of that capital that left pimco. and whether or not he can bring talent with him as well. >> i'm not sure how focused he is on talent right now -- but no, he's very much looking forward to not having to deal with hiring, and just running money. >> i came into the newsroom this morning and you were sort of crackdown falling asleep over your financial times and that is how we found that advertisement there. >> thanks for that. >> yes. gold has fallen to its lowest level this year. analysts say the reasons are the strengthening u.s. dollar and the economy seems to be headed toward an actual recovery. genuine stability year. jim rickards has been one of the most outspoken out there. reaction tout your that statement, that the economy is stable, at least relatively. are you encouraged by the jobs numbers we saw last week echo >> not a