Bond king Bill Gross irked the stock market bulls yesterday when he decided that it was uneconomical for stocks to appreciate at a greater pace than GDP.
But the stock market legends have been firing back in full force.
Legendary finance professor and stock market guru Jeremy Siegel pointed out the flaws in Gross’s assumptions and declared, “There is nothing unecomic about it!”
Here’s a chart from stock market god Lazlo Birinyi, the man who put the ticker tape into the computer. As you can see, Gross doesn’t have a great track record making stock market calls. Maybe he should stick to bonds.