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Siegel Says Gross Is Wrong in Attack on Stock Investing

Jeremy Siegel, author of “Stocks for the Long Run,” said Bill Gross, who runs the world’s biggest bond fund at Pacific Investment Management Co., is wrong when he compares long-term returns from equities investing to a “Ponzi scheme.”

“I like Bill Gross a lot, but he’s got the economics wrong,” Siegel said on Bloomberg Television’s “In the Loop” with Betty Liu. Siegel is “obviously pushing at windmills,” Gross said today in an interview with Liu. “He belongs back in his ivory tower,” Gross said.