Bill Gross Says Bull Market Is Imminent

Posted on CNBC.

• A bull run will begin for the stock market once major financial institutions have deleveraged, Bill Gross, head of bond titan Pimco, said on CNBC.
  
  While warning of the implications of shedding bad debt, Gross said the market may be nearing a point where it comes out of a severe bear market and makes a run higher.
  
  "Bull run, yes, but to what extent in terms of the total return, I don't think it would be typical of prior cycles, because this is a secular delevering," he said. "It's never occurred before—at least it hasn't occurred since the 1930s—and it will carry with it implications for corporate profits, for margins and for ultimately a significantly delevered system not just in the United States but globally."
  
  "To the extent that that happens, not only is the financial marketplace not prepared for it but the global economy is not prepared for it," he added. "We will have to see how it all adjusts going forward. But yes, from a certain price point here and we may be close, a bull market is imminent."

Source: http://www.cnbc.com/id/27363513