MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
an InvestmentWires' Publication
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MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
|
Thursday, August 22, 2013 Gross "Totally Wrong" on QE and Stock Market Bill Gross recent tweet stating "No more QE's? No more bull markets" incited some financial experts to call his view "totally wrong" on Yahoo! Finance and CNBC's Talking Numbers show, during which Josh Lipton interviewed John Stephenson, PM at First Asset Investment Management and Richard Ross, global technical strategist for Auerbach Grayson. In the video, Stephenson says, "No he's totally wrong…I think we're going to have a little bit of a pause here but ultimately the direction is much higher…What has ridden the rally so far has been multiple expansion share buybacks and what's going to drive it is going to be capital expenditure…" Ross told Lipton, "The only bulls who should be worried here are bond bulls. When you pull up this daily chart you can see were still in this very well defined uptrend from last November's low. It's just a late summer seasonal selloff. Keep in mind Josh, over 9 of the last 10 years, the August low proved to be the final low for the year, meaning we closed higher than that August low. I think history repeats itself." To read more, click here. Printed from: MFWire.com/story.asp?s=45667 Copyright 2013, InvestmentWires, Inc. All Rights Reserved |