A sealed deal with Oaktree, pulling in $100 million on the launch day of DoubleLine Total Return and yoga are a few of the things Jeffrey Gundlach says are rewarding and keeping him calm. The founder of DoubleLine and former portfolio manager at TCW shares his thoughts in a Q&A with USA Today
Among the Q&A highlghts:
Gundlach says that he had no plans to leave TCW and start a new firm ("... for those first few days, it was like 'What the hell am I going to do?').
Indeed, it was TCW employees who called him wanting to follow him when they heard he had been fired ("Within hours of being kicked out, many of the people who worked for me called up, and clearly, it was the case they wanted to leave and do whatever I was doing.").
He also claims that he had little support in terms of compliance, marketing and distribution at TCW which means he has a background in those areas to help build DoubleLine.
Gundlach does admit, though, that his biggest setback has been the suit filed by TCW claiming that he lifted systems and customer information from his former employer.
"Once the lawsuit came, the investors who have gatekeepers, middlemen and committees said, 'We're not going to hire you.' It's too easy to say, 'We'll go somewhere else,'" he admits.
Sean Hanna, Editor in Chief
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