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Morningstar 2010: Yoga master class

Superstar managers at Morningstar Investment Conference attribute part of their success to yoga…

Bill Gross at Pimco:

The $227.9 billion Total Return Fund became the world’s biggest mutual fund in 2009, as Gross lured in investors with his handling of the financial crisis. Gross saw the mortgage debacle coming and was able to dodge most of the damage — thanks partly to yoga.

In 2005, he suspected a housing bubble had formed. During a yoga session, it occurred to him to send analysts posing as homebuyers into the field to test his theory. The research helped him decide as early as 2005 to avoid subprime-mortgage- backed securities.

Jefffrey Gundlach at DoubleLine:

Q: You’ve said a key in money management is remaining calm. What’s a tip on doing that?

A: Yoga. I’m not very good at it but have been doing it for about five years.

They’re both in California, and they’re both bond managers extraordinaire. Namaste.

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