(Bloomberg) — The rally that’s helped US stocks almost double in value over the past five years is tapering off, and investors should expect low but positive returns on their investments, according to Bill Gross.
The billionaire investor recommends keeping exposure to the stock market at average levels, while focusing portfolios more on defensive stocks with a small position in bonds.
“No bear market, but it’s not the same bull market anymore,” Gross, the co-founder and former chief investment officer of Pacific Investment Management Co., wrote in his latest investment outlook.
finance.yahoo.com/news/bill-gross-recommends-shift-defensive-130000735.html
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