“债王”格罗斯：负利率就像一颗终将爆炸的“超新星”

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Bill Gross warnedthat central bank policies that pushed trillions of dollars into bonds withnegative interest rates will eventually backfire violently.

On the Janus Capital Group Inc. Twitter,  he said “Global yields lowest in 500 years of recorded history. $10 trillion of negative rate bonds. This is a supernova that will explode one day.”

negative rate bonds 负利率债券

supernova 超新星

He also added that the era of 7.5 percent annualized investment gains is history and that investors should eventually take positions to protect principal or profit from market declines.

principal本金

A successful bond investor one should be one-third mathematician, one-third economist and one-third horse trader.  

一个成功的债券经理是一种混合体——三分之一的数学家天赋,三分之一的经济学家天赋再加上三分之一的聪明人天赋。

He points out that many professional investors do not understand enough math and economics when it comes to investing in bonds with negative yields and that lack of knowledge could have serious consequences.

他指出在投资负收益债券的时候，许多专业的投资家数学和经济学知识比较缺乏，而这种知识缺乏会产生严重的投资后果。

l bond investor one should be one-third m

a successful bond investor one should be one-third mathematician, one-third economist and one-third horse trader.