“Bond King” Bill Gross offered a bearish view of the stock market, just as the “Oracle of Omaha” Warren Buffett also signaled less optimism.
In a post on X early Friday, Gross said there are very few “bull stocks” and pointed to pipeline master limited partnerships, banks, and financials in general.
“Investors should stop talking about buying the dip and start asking about selling recoveries,” the cofounder of PIMCO added.
The tweet came before stocks sold off hard on weak payroll data Friday morning but after a steep dive on Thursday, when a surprisingly low reading of the Institute for Supply Management’s manufacturing index sparked a reversal in the market.
On Saturday, Berkshire Hathaway’s second-quarter earnings report revealed that Buffett’s conglomerate sold a net $75.5 billion worth of stock and nearly halved its stake in Apple.
The transactions took place before the recent stock selloff, when the S&P 500 was regularly setting fresh record highs.
https://finance.yahoo.com/news/bill-gross-says-don-t-190328757.html