Investing legend Bill Gross says there is 'little money to be made' in the world as stimulus wanes and lists 3 sectors investors should buy to play defense
FILE PHOTO: Billionaire investor Bill Gross listens during the Milken Institute Global Conference in Beverly HillsInvesting legend Bill Gross said there is"little money to be made almost anywhere in the world" in his most recent investment outlook note.
Investors should play defense by looking to"shunned sectors" like tobacco, banks, and certain European stocks.That's according to legendary bond and fixed-income investor Bill Gross, in his latest investment outlook note titled"Tattooed," in which he compared the coronavirus' effects on the economy to a tattoo.
Gross said investors will need to play defense going forward by looking to"shunned sectors" like tobacco and banks. They can even consider"foreign companies listed on European bourses that have not skyrocketed on dreams of back-to-normal economic prosperity followed by even lower artificial real interest rates," he added.
But now much, if not all of the US stimulus is over, said Gross, and the nation would need even more money than it required previously to continue to bolster the economy.
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