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| 0:00.0 | This is Planet Money from NPR. |
| 0:06.2 | Nearly eight years ago, early in the morning on September 26, 2014, a giant announcement |
| 0:13.2 | shocked the financial world. |
| 0:15.0 | An earthquake here in the acid management and bond world, Bond King Bill Gross has left |
| 0:22.4 | PIMCO. |
| 0:23.4 | Yes, that was announced just a moment ago. |
| 0:25.1 | Bill Gross, this legendary investor, was leaving PIMCO, one of the most influential money |
| 0:30.8 | management companies on the planet. |
| 0:33.2 | The company he co-founded in the 1970s. |
| 0:35.9 | A number of people, very close to PIMCO, had no idea. |
| 0:41.3 | This is shocking and surprising. |
| 0:43.9 | There had been talk of infighting at the company, but no one expected Bill Gross to actually |
| 0:49.1 | leave. |
| 0:50.1 | His departure capsule turmoil at the company, in which it was driven by destructive tensions |
| 0:56.4 | at the top. |
| 0:57.7 | Bill Gross was known as the Bond King because before him, bonds were this steady financial |
| 1:03.6 | tool, the backbone for your retirement savings and mine. |
| 1:08.3 | Bill Gross helped to revolutionize our financial system, making the bond industry exciting |
| 1:13.5 | and cutthroat with enormous consequences. |
| 1:17.8 | These are one of the main ways companies fund themselves, and the modern bond market |
| 1:22.0 | is much bigger than even the stock market, worth trillions of dollars more. |
| 1:27.2 | And the entire idea of it being a market of actively trading bonds, that wasn't even |
... |
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