"This year is a stinker," Pimco's Bill Gross writes in an apology for the Total Return Fund's...

|By:, SA News Editor

"This year is a stinker," Pimco's Bill Gross writes in an apology for the Total Return Fund's 2011 performance, which lagged 82% of peers with its 1.3% return. Sure, he blew this year's Treasury rally, but the new motto seems to be don't fight the Fed - he's Twisting out of short-term debt into longer-term issues.