Veteran Investor: We’re Buying High And Crossing Our Fingers

Veteran fund manager Bill Gross has summed up the world of trading in 2015, saying investors “are buying high and crossing their fingers.”

Speaking during an interview at the Bloomberg Invest New York summit, Gross said that current times represented the “second-most risk-averse” period he had experienced.

“It’s not an attractive position; instead of buying low and selling high, you’re buying high and crossing your fingers,” he said.

Despite global indicators ensuring potential gains are kept low in traditional investment opportunities, Gross says, this does not help exposure, as investing parties have to take great risks for relatively small returns.

Despite not touching on disruptive markets such as Blockchain-based ICOs or cryptocurrency trading, his words nonetheless ring true to the average Bitcoin investor.

Prices of the top ten cryptocurrencies and beyond have all rapidly increased this year to levels most would never have anticipated even six months ago.

Growth has also seen volatility return to the previously more tame Bitcoin market, while those investing in Ethereum token-based ICOs have made millions overnight.

“...You basically tell your investors that it’s a changed world, that returns are going to be lower and that if you want to sleep at night, to accept the market as it is,” Gross added in a subsequent interview. “Low volatility requires low returns.”

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