Bill Gross: Stocks Are ‘Priced for Too Much Hope’

Bill Gross, the so-called "Bond King," thinks stocks are currently “priced for too much hope,” and here’s why: He doubts President Trump can deliver rapid economic growth because the United States simply isn't as productive as it used to be.

"High rates of growth, and the productivity that drives it, are likely distant memories from a bygone era," he notes in his monthly investment outlook released Thursday morning.

Gross, who rose to prominence as a star bond investor with Pimco, is...

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