Billionaire bond-fund manager Bill Gross says that it’s time for investors to ditch stocks and bonds in favor of tangible assets like gold, land and plants and equipment. But the pronouncement may just be a lot of self-serving spin.
“’Favor gold, favor real estate, favor tangible plant and equipment at a discount. Forget about bonds. Forget about stocks.’ I feel like he wants to hide somewhere with canned goods,” Bloomberg’s Alix Steel said.
“Do you think Gross is looking for a little attention?” Bloomberg’s David Westin pipes in.
“I think the real story here,” says Jonathan Ferro, “is that if you want to buy gold, tangible plant and equipment, real assets, such as land, not every investor can go out there and do that. You then have to do it via a fund, which of course he then promotes.”
“Right, he happens to have one,” West says.
Watch the full video below.
[Bloomberg] —Christopher Cameron