is siding with Jeff Gundlach
's new analyst ratings system.
There's no love lost between Chicago-based Morningstar and Los Angeles-based DoubleLine Capital
]. The top-selling and outperforming DoubleLine Total Return Fund
is still too young to have a quantitative Morningstar star rating, and under the new analyst rating system
the Chicago-based mutual fund ratings shop gave the hit fund a "neutral" rating.
's capital markets editor, Gary Kaminsky
this neutral, calling the new qualitative system "garbage in, garbage out."
Gundlach himself weighed in, accusing Morningstar of not having a clue about what DoubleLine Total Return.
"I don't think the ratings analysts ever understood what we did," Gundlach told CNBC
. "I've got news for people. The people that do these ratings qualitatively have never managed any money."
Morningstar submitted a statement to CBNC
explaining DoubleLine Total Return's neutral. Watch the clip
for the whole discussion.
Neil Anderson, Managing Editor
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