by Calculated Risk on 9/26/2014 04:44:00 PM

Several years ago, I occasionally attended the same yoga class as former PIMCO CIO Bill Gross.

In June 2007 (a few months before the recession started), I was waiting for a yoga class and happened to be standing right next to Mr. Gross.

Some random guy walked up to Gross and asked him if it was time to buy distressed bonds (Tanta and I were writing about the coming recession and how many financial institutions would be in trouble or gone).

Gross answered "probably" (time to buy distressed bonds) ... and I almost screamed "No".  Then I realized maybe Gross didn't like that guy ... or he didn't like being asked about bonds at a yoga class.

Of course neither of them knew me - but I called Tanta after the class and told her what Gross said.  And that was the source of Tanta's joke in this post: BONG HiTS 4 BILL GROSS!