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Monday, December 03, 2012

Gundlach Listens for a Kaboom

News summary by MFWire's editors

Jeffrey Gundlach, chief executive, chief investment officer and co-founder of DoubleLine [profile], regularly tells investors that there is a financial apocalypse looming and that it involves three phases.

According to Bloomberg, phase one involved a 27-year buildup of debt, including corporate, personal and government. This lasted until 2008, when all this debt led to the financial crisis, phase two.

Gundlach's third phase, according to Bloomberg, will involve the default of various deeply indebted countries and companies sometime after 2013.

Bloomberg reports that Gundlach warned a luncheon crowd of roughly 200 advisors and investors in mid-October at Los Angeles's City Club.

I dont believe youre going to get some sort of an early warning, Gundlach is quoted as telling the audience. You should be moving now.

Bloomberg reports that Gundlach is so confident that phase three is coming that hes planning to start an equities fund and a long-short hedge fund in early 2013 to offer investors additional protection from inflation. Gundlach, who says he buys assets only on the cheap, is also sitting on cash in anticipation of scooping up securities at fire-sale prices. Cash makes up 17 percent of his Total Return fund.

Im waiting for something to go kaboom, Gundlach is quoted by Bloomberg during an interview in his office a week before the L.A. speech. If phase three takes two years, its worth waiting for. The markets dont have lots of opportunity now.

To gain further insights into the apocalyptic vision, and entertaining eccentricities, of Gundlach, read the Bloomberg article

Edited by: Tommy Fernandez


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