Bill Gross bullish on real assets

``... stocks and bonds have been the backbone of most investment portfolios, but Bill Gross, managing director of PIMCO, the well-respected investment firm headquartered in Newport, Calif., believes metals and minerals as well as real assets such as land, buildings and machines should take precedence over the next few years as individuals, companies and governments around the world continue the arduous process of paying down their debts.''