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PIMCO - Stocks & Bonds DOA until 2022
Quote: SAN LUIS OBISPO, Calif. (MarketWatch) — Big money managers are warning investors. They’re now citing the Bible: “Seven lean years.” No recovery till 2016. That was Jeremy Grantham back a few years ago. His GMO firm manages $104 billion.

Now Bill Gross and Mohamed El-Erian, the co-CEOs at the $2 trillion Pimco money managers, are citing the same biblical warning to jar investors awake and prepare for the coming lean years of slow, low growth and austerity. Except in Pimco’s new warning, the future just got much, much darker for investors — no recovery until 2022.

Norbert Schiller/World Economic Forum
Pimco’s Mohamed A. El-Erian,

Earlier in the summer — back when most investors were totally distracted by campaign drama and betting heavily on a new president, anticipating a post-election bull market — many were expecting Corporate America would unleash trillions in hoarded reserves, stimulate a recovery and new bull. Back then, Reuters, Forbes, CNBC, Bloomberg, the Wall Street Journal and rest of the obsessed media simply yawned at Gross and El-Erian’s warning that equities hit a “dead end in terms of significant appreciation.”

Looks like things could get very ugly. Full article here.
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