President Trump Doesn’t Fool Bill Gross

Game recognizes game, motherf@cker.
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Photo: Bob Riha Jr/Getty Images

Photo: Bob Riha Jr/Getty Images

In trying times, in the face of the really hard questions, there’s only one man to turn to: William Hunt Gross, Secretariat of Bond Investing, Triple Crown of Newport Beach, poet of the quarterly letter.

What is the recipe for a test-tube baby? (See here.) Are hedge funds a scam? (Yes.) Was he fired by PIMCO? (Yes, hand-scrawled resignation note notwithstanding. Money please.) Is it wrong to value living things based only on size? (Maybe.) What’s the best place to think? (His shower.) What’s the best kind of dog? (A cat. Second-best is a golden retriever.) What’s the key to getting your wife to want to dance with you? (Vodka.) What are the greatest pleasures in life? (An ice-cream sandwich, a hot shower and a really good sneeze.)

Unlike the other intellectual giants we turn to in times of turbulence, however, Gross has been eerily silent on the meaning of President Trump. Given their sharedantipathy for Fed Chair Janet Yellen, you might expect Gross to be all in on Trump á la Carl Icahn and John Paulson. No: Like Mike Bloomberg, Bill Gross knows a con-man when he sees one and presumably cast his ballot for the Peace & Freedom Party’s Gloria Estela La Riva.

“I write in amazed, almost amused bewilderment at what American voters have done to themselves,” said Gross…

So what will President Trump’s America look like? Not particularly Great, but mercifully also relatively brief.

“His tenure will be a short four years but is likely to be a damaging one for jobless and low-wage American voters,” he said. “His policies of greater defense and infrastructure spending combined with lower corporate taxes to invigorate the private sector continue to favor capital versus labor, markets versus wages, and is a continuation of the status quo….”

“There is no new Trump bull market in the offing. Be satisfied with 3-5% globally diversified returns. The Wall Street, finance-led hegemon is fading. The populist sunrise has barely broken the horizon.”

He’s seen the future, and it’s not quite murder. Pay heed. I mean, when has Bill Gross ever been wrong?

Bill Gross: Trump’s Presidency Will Be ‘Damaging,’ Won’t Spur A New Bull Market [Forbes]
Bill Gross on Trump: A Fox in the Henhouse, But the Populist Wave Is Real [WSJ]
Gross Sees ‘No New Trump Bull Market,’ Says Growth Plan Flawed [Bloomberg]

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