Bill Gross wants investors and fans to know two things: it’s time to favor value stocks over growth and he’s doing great on the golf course.

“Value stocks, versus growth stocks, should be an investor’s preference in the near-term,” the veteran fixed-income investor wrote in an investment outlook issued Tuesday in which he also mentioned that he recently shot an 83.

The epic decline in real rates that powered the surge in growth stocks has run its course, according to Gross. Given that rates don’t have much further to fall, powerhouses such as Microsoft Corp., Apple Inc. and Inc. may “have seen their best days,” he added.

Gross, 76, said he favors several stocks: pipeline company Enterprise Products Partners LP, Altria Group Inc., International Business Machines Corp. and AbbVie Inc. He didn’t offer details on why he likes them.

The investment outlook was Gross’s second since he retired from money management in March 2019. During his almost five-decade career, he built a following with idiosyncratic monthly letters to investors.

Tuesday’s letter was no different. It started out with his thoughts on what it’s like to appear on CNBC and ended with the revelation that he’s “Covid-19 free.”

--With assistance from Liz Capo McCormick and John Gittelsohn.

This article was provided by Bloomberg News.