"If you're going to panic, do it fast and beat the crowd." ~ Jesse Livermore
Tuesday, March 12, 2013
Pimco's Gross on Irrational Exuberance Now
Pimco's Gross: Irrational Exuberance, the Sequel | Fox Business: "Pimco’s Bill Gross says investors who believe double-digit market returns will continue are irrationally exuberant and warns they better lower expectations on all asset classes.
Gross again takes characteristically pointed jabs at the Federal Reserve’s easy money policies in his latest investment letter.
PIMCO’s Gross warns investors that, on a scale of one to ten, markets are now a six for “asset price irrationality," which is “moving in an upward direction,” as the markets are in shouting distance of record highs set in October 2007. . . ."