Jeffrey Gundlach’s DoubleLine Asset Allocation webcast slides.

Wage Gap Discontent

Jeffrey Gundlach

Source: As of 12-31-2015

Jeffrey Gundlach: Wealth Distribution Gap

Jeffrey Gundlach

Source: As of 12-31-2015

RHS = Right-hand side

Average Monthly Premium for Obamacare Insurance Plans

Jeffrey Gundlach

Source: as of 9-30-2016

U.S. Mortgage and Rent Payments Relative to Income

Jeffrey Gundlach

RHS = Right hand side. You cannot invest directly in an index.

FaceBook, Amazon, Netflix and Google (FANG Stocks)

November 11, 2015 to November 10, 2016

Jeffrey Gundlach

Source: CLSA as of October 31, 2016. FANG = Refers to a basket of stocks including Facebook, Amazon, Netflix and Google stocks that are equally-weighted and represent the technology sector.

DoubleLine Core Fixed Income Fund and DoubleLine Flexible Income Fund own 0% in Facebook, 0% of Amazon, 0% in Netflix and 0% of Google as of 10/31/2016. You cannot invest directly in an index.

U.S. Unemployment Rate vs. 12-m Simple Moving Average

January 1, 1987 to November 4, 2016

  • Since 1951 we have had 35 recession signals by this measure. 17 of those saw a recession within 12 months of the signal. (49% hit rate)
  • There were 10 recession during this time period. Note that sometimes there are multiple signals within 12 months of the recession.

Jeffrey Gundlach

RHS = Right hand side. SMAVG = Simple moving average.

Source: Bloomberg. You cannot invest directly in an index.

Copper

November 16, 2011 to November 15, 2016

Jeffrey Gundlach

Source: Bloomberg. Copper is the world’s third most widely used metal, after iron and aluminum, and is primarily used in highly cyclical industries such as construction and industrial machinery manufacturing.

Prices are quoted by size in 25.000 lbs. increments.

You cannot invest directly in an index.

Different Measures of Core Inflation

Jeffrey Gundlach

PCE = Personal Consumption expenditure measures price changes of consumer goods and services. CPI == Consumer price index measures the average weight of a baskets of gods and services, such as transportation, food and medical care. FRB = Federal Reserve Board of Cleveland. Sticky CPI = Measures those components of the CPI that remain fairly constant: rents, medical expenses. You cannot invest directly in an index.

U.S. PriceStats CPI (YoY)

December 2, 2012 – November 11, 2016

Jeffrey Gundlach

Source: StateStreet

CPI == Consumer price index measures the average weight of a baskets of gods and services, such as transportation, food and medical care. YoY = year-over-year. You cannot invest directly in an
index.

See the full slides below.