"Stanley Druckenmiller, George Soros, Ray Dalio, Jeremy Grantham, among others, warn investors that our 35-year investment supercycle may be exhausted."

Gross recommended that investors should stop focusing on price appreciation and, instead, look to "mildly levered income," such as his recommendation to short German government debt.

"I merely have a sense of an ending, a secular bull market ending with a whimper, not a bang. But if so, like death, only the timing is in doubt," Gross said.

David Schawel, vice president and portfolio manager of Square 1 Financial, said about Gross's latest prognostication: "I think it's obvious that going forward, returns are going to be lower across asset classes. However, it's proven very difficult to guess the timing, as the last few years have shown."

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