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Rating:Gross to Citizens: 'Hold Your Noses' Not Rated 5.0 Email Routing List Email & Route  Print Print
Thursday, March 31, 2011

Gross to Citizens: 'Hold Your Noses'

News summary by MFWire's editors

Fundsters worried about the U.S. federal government's budget deficit may not take heart from Bill Gross' latest monthly investment outlook. The Pimco [see profile] co-chief investment officer is seriously worried.

Bloomberg's Wes Goodman and Fortune's Colin Barr both reported on Gross' latest posting.

"Citizens of America -- hold your noses," Gross writes. "We are smelling $1 trillion deficits as far as the nose can sniff."

"If the USA were a corporation, then it would probably have a negative net worth of $35-40 trillion ..."

Gross' harsh words about the deficit may not surprise many fundsters, as last month he reportedly completely dumped treasuries from his giant Total Return Fund (see The MFWire, 3/10/2011). 

Edited by: Neil Anderson, Managing Editor

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