Talking on CNBC about “the new normal”, Pimco’s founder and co-CIO Bill Gross, said “the Dow isn’t going back to 14K, and investors shouldn’t expect double-digit returns on stocks. Gross also said that “corporate profits in terms of their margins will be half of what they were several years ago and that P/E ratios will be significantly lower than what we’re used to”.
The Bond King Speaks
