Bill Gross on QE and Survival of the Fittest

Bill Gross' latest monthly outlook titled Survival of the Fittest?

I hate crows and my wife Sue hates bugs, but like most married couples we have learned to live with our differences. Crows eat bugs though, and bugs eat bugs, and that scientific observation sets the context for the next few paragraphs of this month’s Investment Outlook.

About those crows: They screech, they jabber, they complain from the treetops and then once on the ground they hop, hop, hop all over the street looking for garbage. Flying seems beyond them –...