The world has changed, says Bill Gross

Things are different now, and investors need to change their strategies, says Pimco's Bill Gross.

Investors need to accept the fact that "the game as we have all known it appears to be over", says US investor Bill Gross. The co-founder of the world's biggest bond fund, PIMCO, reckons that investors need to change their strategies in the wake of the financial crisis.

To understand how different things are now we have to look at the history of leveraging, before the financial crisis, says Gross. Since the early stages of the 20th century "the trend towards financial leverage has been ever upward". Politicians set the rules, by relaxing regulation and freeing paper currency from real world constraints like gold.

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James McKeigue

James graduated from Keele University with a BA (Hons) in English literature and history, and has a certificate in journalism from the NCTJ. James has worked as a freelance journalist in various Latin American countries.He also had a spell at ITV, as welll as wring for Television Business International and covering the European equity markets for the Forbes.com London bureau. James has travelled extensively in emerging markets, reporting for international energy magazines such as Oil and Gas Investor, and institutional publications such as the Commonwealth Business Environment Report. He is currently the managing editor of LatAm INVESTOR, the UK's only Latin American finance magazine.