Bond guru Bill Gross says that the good times are over for investors, and is indicating that he believes the bull market will end sometime this year.

“Beware the Ides of March, or the Ides of any month in 2015 for that matter,” Gross writes in his January investment outlook. “When the year is done, there will be minus signs in front of returns for many asset classes. The good times are over.”

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Gross says he expects there to be an inflection point in markets sometime in 2015, as sluggish global growth, high debt levels and low interest rates tilt the risk/reward balance for investors. He says that Treasurys and high quality corporate bonds, and equities of low-debt corporations with good dividends and diversified revenues are the place to be in such an environment.

“Debt supercycles in the process of reversal are not favorable events for future investment returns,” Gross concludes. “Father Time in 2015 is not the babe with a top hat in our opening cartoon. He is the grumpy old codger looking forward to his almost inevitable ‘Ides’ sometime during the next 12 months. Be cautious and content with low positive returns in 2015. The time for risk taking has passed.”