Investment legends Bill Gross and Jack Bogle offered differing opinions on what the future holds for the economy and the stock market in this recent CNBC interview. Gross reiterated his belief in a “new normal” in which both stock and bond investors need to rachet down their expectations. Bogle, meanwhile, says it’s reasonable to expect stocks to post annualized returns of a little more than 8% over the next decade. JPMorgan Funds Chief Investment Strategist David Kelly also offered his take on why ballooning government debt could lead to investors moving money out of bonds and into stocks.
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