Billionaire “bond king” Bill Gross believes that the most significant gains from the U.S. stock market’s record bull run may already be behind us. He anticipates that the S&P 500 will provide low single-digit returns—though still positive—in the fourth quarter of 2024 and beyond.
While Gross, who has been diversifying into stocks since his retirement, expects equities to continue rising, he suggests that investors might want to adopt a more defensive approach to their portfolios.
Here are four stock-market recommendations he offers:
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