Shock, horror. Investing in shares is gambling.
The Guardian reports:
Global central bank policymakers have turned world financial markets into a casino with their unprecedented monetary policies, the bond investor Bill Gross has warned.
Gross, who oversees the $1.5bn (£1.2bn) Janus Global Unconstrained Bond Fund, recommended bitcoin and gold for investors who are looking for places to preserve capital.
“Our financial markets have become a Vegas/Macau/Monte Carlo casino, wagering that an unlimited supply of credit generated by central banks can successfully reflate global economies and reinvigorate nominal GDP growth to lower but acceptable norms in today’s highly levered world,” Gross said in his latest investment outlook, titled Doubling Down.
Some might argue that the financial markets have always been a glorified casino, although the odds are slightly more in favour of the investor than when playing blackjack. At least, that has been my experience.
No comments:
Post a Comment