"Buy what central banks buy before they buy them," says Bill Gross (BOND), explaining why he's...

|By:, SA News Editor

"Buy what central banks buy before they buy them," says Bill Gross (BOND), explaining why he's been stocking up on Spanish and Italian sovereign debt. It's not complicated - the ECB unveiled a program to buy the same, but hasn't started yet, so Gross is taking advantage by getting in there first.