what a great comment from Gross....

Gross is an interesting ‘investor’ and usually has something of ‘interest’ to say – whether he is correct or not is another matter for discussion on another day! But this piece of commentary speaks quite directly.

 

“An instant replay of these past few decades would have shown that accelerating asset prices weren’t due to any particular wisdom on the part of academia or the investment community but an offensively minded Federal Reserve and their global counterparts who were printing money, lowering yields and bringing forward a false sense of monetary wealth that was dependent on perpetual motion,” Gross wrote in a commentary posted on Newport Beach, California-based Pimco’swebsite today.

Gross Says Investors Should Embrace Defense With Zero Rates, Systemic Risk

http://www.bloomberg.com/news/2012-02-28/gross-says-investors-should-embrace-a-defensive-strategy-amid-zero-rates.html