Jeff Gundlach Ira Sohn coverage brought to you by ValueWalk.
Jeff Gundlach is Chief Executive Officer and Chief Investment Officer of DoubleLine. Jeff Gundlach was formerly associated with TCW where he was Chief Investment Officer and head of fixed income activities. He is recognized as a leading expert in bond and fixed income investments. Jeff Gundlach’s investment strategies have been featured in leading publications including The New York Times, The Financial Times and The Wall Street Journal. In 2010, Jeff Gundlach was named to the SmartMoney Power 30. In 2011, he was featured as “The King of Bonds” in Barron’s, and named one of “5 Mutual Fund All-Stars” by Fortune Magazine. In 2012, he was named one of the “50 Most Influential” by Bloomberg Markets magazine.
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Jeff Gundlach Ira Sohn Conference Live
18:06 PM EST: Jeff Gundlach is up next.
18:09 PM EST: Jeff Gundlach opens by talking about the Depression and the Presidents who dealt with it. Franklin Delano Roosevelt, and Hoover.
18:10 PM EST: FDR promised to lower government costs, he didn’t manage it.
18:14 PM EST: Gundlach recommends taking all of your money out of bank accounts.
18:15 PM EST: He’s talking about the Cyprus bailout, he’s saying that it could happen here if the government keeps going the way it is.
18:16 PM EST: Gundlach puts Cyprus as a metaphorical Lucitania in a war against depositors.
18:17 PM EST: Investing on inflation from central bank policy is not timely says Gundlach.
18:17 PM EST: QE is Bernanke’s way of financing the budget deficit for the Government.
18:18 PM EST: That means, says Gundlach, QE is here to stay, they’re just a means of financing the deficit.
18:19 PM EST: Unthinkable outcome:$26 trillion in debt by 2017.
18:21 PM EST: QE means insurance premiums will fall. Insurance companies should be avoided.
18:23 PM EST: Government talks about downsides of QE so they can say they looked at it. They’re not going to do anything. QE is here to stay.
18:24 PM EST: Treasury Bills aren’t over owned says Gundlach.
18:25 PM EST: Gundlach is interested in what’s happening with ETFs. The Great Rotation is stupid says Gundlach.
18:26 PM EST: QE makes investors comfortable at a higher level of risk.
18:27 PM EST: “If you disagree that QE will continue, short French bonds because we all know that France is a basket case.”
18:29 PM EST: Gundlach likes shorting Chipotle Mexican Grill, Inc. (NYSE:CMG).
The Bottom Line From Gundlach is that the Great Rotation doesn’t exist, QE will never end, Chipotle Mexican Grill, Inc. (NYSE:CMG) is a short and T-Bills are a buy. Kind of a weird mix.