"Bond King" Gross: Currently Avoiding Certain "Elite" Stocks, Including Oracle, Microsoft, IBM, and Others

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Renowned investor Bill Gross, known as the “Bond King,” stated that some “elite” stocks are facing difficulties and market participants should be content with smaller gains from other stocks. Gross listed Oracle, Microsoft, and IBM as part of the group that is being “rapidly phased out.” “Maybe it’s not a single-elimination tournament, but it certainly feels like one,” the co-founder of Pimco wrote. “I’m avoiding them.” Gross suggested traders should “be satisfied with single-digit returns,” mentioning Western Midstream Partners, Verizon Communications, and AT&T.

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