Bill Gross admitted that it was "a mistake" not to build an equities business for a long time, he said in a Bloomberg Q&A with Charlie Rose. He said he hopes to build an equity base as strong as his fixed-income base but it won't happen for some time.

On the positive side, for Gross anyway, the bond fund king said it's going to be "very hard" to see 3 to 4 percent growth in the GDP in the next 12 months, which could mean the Fed won't ease off the accelerator.

Inflation is also looking "good" Gross said to Rose, " Obviously, in terms of housing g prices and in terms of stock prices, we've got good inflation going."

When asked if there would be a shift away from bonds, Gross didn't quite answer the question, instead assuming Rose was insinuating a death for the asset class, by saying, "To think that the past two months in terms of bond performance--it's down only 3 percent in terms of the overall indices--spells death of an asset class is doing it a terrible injustice."

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Edited by: Casey Quinlan


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