Jeffrey Gundlach is Bearish on Housing and Bank of America

Although Jeffrey Gundlach,  of DoubleLine Capital CEO , does not receive nearly as much publicity as Bill Gross; Gundlach is on par with Gross, as one of the best fixed income managers today. Gundlach was recently on Cnbc discussing the housing bubble. He made some very strong and scary points. Gundlach said that housing “about to go to a new low.”

Gundlach also stated regarding Bank of America:

doubeline capital“The majority of non-performing loans are Countywide-based but in totality at Bank of America they reported over $200 billion of loans that are not making payments. This is not a forecast of where this is going to go, this is what’s already on the books.”

Below is the full video:

Disclosure: No position in BAC