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Tuesday, January 29, 2013

Rogers Predicts a "Great Rotation: Money Coming Out of Bill Gross' Portfolio"

News summary by MFWire's editors

The Pimco Total Return Fund [profile] is the biggest mutual fund in the world right now, yet 2013 could be the year of "the great rotation: money coming out of Bill Gross's portfolio and going into the equity market."

T. Rowe Price [profile] chairman and chief investment officer Brian Rogers shared that prediction recently at the Barron's 2013 Roundtable. Gross himself was one of the eight other members of the panel.

"Sorry, that hasn't happened," Gross said of Rogers' prediction.

Gamco [profile] chief Mario Gabelli, the editor of the High-Tech Strategist, and top investors from Delphi, Eagle Capital Partners, Goldman Sachs, O.S.S. Capital and Zulauf Asset Management rounded out the panel.

Gabelli predicted at best modest market gains for 2013, yet he added that he has "never been more excited about specific stocks." He anticipates big gains from "financial engineering" this year.

The nine members of the panel all sorts of economic forecasts, big and small. Read the transcript here

Edited by: Neil Anderson, Managing Editor

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