Bill Gross Says Investors Should Play Defense as Stimulus Ebbs
This article is for subscribers only.
Investors should be shifting into shunned sectors such as tobacco, banks and European stocks as fiscal stimulus and the stomach for growing deficits in the U.S. wane, according to longtime money manager Bill Gross.
With an emphasis on defense, investors should consider assets that haven’t “skyrocketed on dreams of back-to-normal economic prosperity followed by even lower artificial real interest rates,” Gross, who retired last year, said in an outlook released Monday.