- Investing guru Bill Gross said in his latest newsletter that he supports the recent wave of support for women and the Me Too movement.
- Gross also listed a few things that men deserved to be recognised for, including needing “fewer pairs of shoes and purses.”
- Much like men, Gross said, bonds are also in a bear market and the recently-passed tax bill should also provide a small economic boost.
In his latest monthly investment letter, investing guru Bill Gross wanted to applaud the Me Too movement and support women, but also make sure you don’t forget about men.
“Women have gotten the short stick or metaphorically the short rib ever since Eve, and I’m with Oprah for president and much, much more but hey, guys have got a few positive qualities that need to be mentioned,” Gross, a bond portfolio manager for Janus Henderson Investors, said to start the newsletter.
Gross then goes on to list a few positive qualities that are exclusive to men, they are:
- “Men need fewer pairs of shoes and purses.”
- “Men live 10 years less on average. They truly are the weaker sex. Feel sorry for ’em ladies, not angry.”
- “Men shouldn’t be criticised for not putting the toilet seat down. If they need to put it down, they will. If women do too, they can use their foot just like everyone else.”
- “Men run faster, jump higher and are much better at not communicating.”
- “Sure men start wars but great things actually are a result of them. Canned foods owe their origin to Napoleon, microwave ovens to the invention of radar during WWII, and the Internet (not Al Gore) to the fear of Russia bombing U.S. telephone lines during the Cold War. Way to go guys. Keep starting those wars.”
- “Men always know where the remote control is. Right next to them.”
Gross concludes the commentary by saying that men should take a less active role in society.
“Actually most of the world’s problems would go away if men just stayed home, watched football and learned to talk to their partners during commercial breaks,” he wrote. “There are certainly enough of them.”
Pivoting toward investing, Gross compares the current state of the bond market to the situation of men: “Bonds, like men, are in a bear market.”
In addition to bonds, Gross predicts that the recently-passed tax legislation will help boost the economy in the short-run and cause inflation to reach the Federal Reserve’s 2% goal, prompting more interest rate hikes. The Fed rate hikes combined with less bond buying by foreign central banks will also contribute to the bond bear market according to Gross.
“Oprah shouted, “Their time has come.” The bear bond market’s time has come as well. Many would say, including yours truly – “It’s about time’.”