Pimco Bond Twit Bill Gross Tweets Again
by AL MARTIN (AL MARTIN RAW)
(5-15-13) There he goes again, as Ronald Reagan used to say. Bill Gross, head of Pacific Investment Management Co. (Pimco) keeps promising to retire, but still hasn't. Instead he tweets...
The latest tweets -- "Gross: The secular 30-yr bull market in bonds likely ended 4/29/2013. PIMCO can help you navigate a likely lower return 2--3% future."
Gross has called the end of the secular bull market in Bonds, and we traders call it the Bill Gross Contrary Indicator, which has actually become an official indicator in the market. Why? Because Gross has been wrong so many times.
In his monthly investment letter, Gross also reported that Pimco has boosted its holdings of Treasuries to the highest levels and that Treasury bonds "are a better bet than the alternative (cash) as long as central banks and dollar reserve countries (China, Japan) continue to participate."
So a couple days ago Bill Gross came out and said that he changed his mind for the umpteenth time and that the June Long Bonds that they had bought at 149, he sold at 144.
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