The cult of equity is dying, but the "cult of inflation" has only just begun, writes Bill Gross,...
The cult of equity is dying, but the "cult of inflation" has only just begun, writes Bill Gross, expecting not just a few years, but decades of an "inflationary solution" to the issues developed economies face. Obviously not great for the holder of long-term bonds, inflation won't be great for stocks either. Jeremy Siegel's 6.6% long-term real return from equities in the 20th century may have been an "historical freak."
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