"Bond King" Gross: Avoiding certain "elite" stocks, including Oracle, Microsoft, IBM, etc.

Bill Gross, a famous investor known as the "bond king," said that some "elite" stocks are facing difficulties, and market participants should be content with smaller gains from other stocks. Gross listed Oracle, Microsoft, and IBM as part of the team that is being "rapidly eliminated." "Perhaps this is not a single elimination competition, but it feels like it," wrote the co-founder of Pimco. "I am avoiding them." Gross said that traders should be "satisfied with single-digit returns," and mentioned Western Midstream Partners, Verizon Communications, and AT&T.