The longer we go without a major financial crisis, the more tempting it becomes for the billionaire investors to jump in with their wager that the next crisis is coming soon. Another master of the universe has officially jumped onto the “doom is at hand” train.
Bill Gross (net worth: $2 billion) (pictured—without a care in the world! Must be nice!) is the most famous bond investor in history. And now... he’s ready to bet against bonds! Now that’s what I call news, folks! Man bites bond! Here is where we bold the most doomsaying portions of Bloomberg’s report:
Gross, who manages the $1.3 billion Janus Global Unconstrained Bond Fund, said he expects corporate-bond prices to fall in part because they’ve risen so fast since mid-February but also because he believes a day of reckoning will come when central banks will no longer be able to prop up assets and investors will withdraw from markets... [!!!-ed]
“I’m an investor that ultimately does believe in the system, but believes that the system itself is at risk.” [<——-wow! -ed]
The bad news: the man who knows more about the global credit system than anyone now believes that the world economy is headed off a fucking cliff.