Wall St gurus find predictions game getting harder

By Joseph A. Giannone and Jessica Toonkel – Bill Gross, the manager of the world’s largest bond fund, kicked off the year calling the current market “paranormal.” He forecast a 2012 characterized by “credit and zero-bound interest rate risk.

These days, market volatility is the norm and far-flung political events can send U.S. markets into a tailspin. Skeptics contend it is hard to...