PIMCO bond guru Bill Gross says that Treasury bond investors are going to get a “haircut”, and that those looking to preserve their purchasing power must put their money into assets like stocks and real estate. “In the Treasury market all interest rates are on a negative basis,” Gross tells CNBC. “Risk averse investors looking to hide in Treasurys will see a haircut relative to future inflation.” That forces investors into stocks, high-yield bonds, real estate and gold, which have better ability to keep up with inflation. “It doesn’t mean that you should necessarily buy them,” Gross said. “But if you want to maintain purchasing power you have to make that leap into real asset territory to get a real return.”