Jeremy Siegel, author of “Stocks for the Long Run,” said Bill Gross, who runs the world’s biggest bond fund at Pacific Investment Management Co., is wrong when he compares long-term returns from equities investing to a “Ponzi scheme.”
Stocks in the developed world and emerging markets may rally in coming years as they trade below historical valuations, said Jeremy Siegel , a professor of finance at the University of Pennsylvania’s Wharton School.
James Burton didn’t have a penny invested in gold of the $142.8 billion he managed as chief executive officer of the California Public Employees’ Retirement System in 2002. Why would he? The metal had been in a bear market for two decades.
U.S. stocks fell, sending the Standard & Poor’s 500 Index down for a fourth straight day, after European Central Bank President Mario Draghi failed to reassure investors on immediate efforts to bolster the economy.