Bill Gross, an investor known as the "Bond King," has purchased stock in multiple regional banks.
The investor aims to capitalize on lower prices that regional stocks are trading at after the recent crisis.
- The
investor shared the news on his website, where he also wrote his
opinions on the decisions that the Federal Reserve, the CEOs of the
major banks in the U.S., U.S. politicians, etc., have made.
- Known
for his controversial stances, Gross claims that public markets and low
stock prices have enabled him to own a bank, a business that, according
to him, is "a license to make money" if run properly. The investor has
bought stock in companies such as:
- Western Alliance Bancorp,
- Synovus Financial Corp,
- and PacWest Bancorp.
- He
added that U.S. and global economies would have difficulty bringing
inflation to the targeted 2%; therefore, investors should own
inflation-protected bonds rather than Treasuries.
- Gross believes that consumer prices will increase at 3% per year for the unforeseeable future.
- The 79-year-old retired from Janus Henderson Investors and active fund management in February 2019.
- He now focuses on managing his personal assets and his $350M private charitable foundation.
