The Globe and Mail reports in its Tuesday edition that Janus Capital fund manager Bill Gross says the recent Trump-fuelled rally in U.S. equities has gone too far and suggests investors take a breather. The Globe's Christina Pellegrini writes that stocks have soared since Donald Trump was elected U.S. president, with the major American indexes reaching record highs on Black Friday before ending last week close to flat. Mr. Gross says Mr. Trump's campaign promises for growth are too good to be true. He says now is a good time for equity investors to take some profits and hold a little more cash. He thinks slashing the corporate tax rate to 15 per cent from 35 per cent is nothing more than a "handout" that will not spur investment. Mr. Gross is adamant that the U.S. economy expanding at an annual pace of 3-per-cent to 4-per-cent growth "is just not going to happen." Mr. Gross, once dubbed the "bond king," is starting to manage a new fixed-income fund on behalf of National Bank Investments, marking the first time Canadian retail investors can access one of his portfolios in Canadian-dollar terms and without any foreign-exchange risk. His NBI Unconstrained Fixed Income Fund made its debut last month.