Aaron: Bill gross did in fact do what eson so that's great. At this point, aaron can say he basically understands what bill gross did and how he generated most of his alpha. A small but significant slice was still unexplained. Aaron has a few theories about what that magic might have been like the fund bill grosse ran,. It was really big, and that gave him some advantages in the market. But to those purists, it's not real alpha.