The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:The DoubleLine-M* Feud Goes All the Way Back Not Rated 0.0 Email Routing List Email & Route  Print Print
Monday, September 29, 2014

The DoubleLine-M* Feud Goes All the Way Back

News summary by MFWire's editors

As it turns out, the bad blood between Jeff Gundlach's DoubleLine [profile] on the one side and Morningstar on the other is as old as DoubleLine itself.

The dispute between the Los Angeles-based fixed income mutual fund shop and the Chicago-based mutual fund ratings giant is old news, yet a new Barron's report by Jonathan Laing sheds light on how it all began.

The Barron's article reveals that, days before TCW fired Gundlach and unveiled its planned acquisition of MetWest on December 4, 2009, "several Met West operatives" met with Morningstar's Eric Jacobson to give the analyst advance notice of Gundlach's impending doom. Upon leaving TCW, Gundlach and a number of his departing colleagues promptly launched DoubleLine.

The new article also includes the revelation that Gundlach actually won the first ballot that December for Morningstar's bond manager of the year award, yet Dan Fuss and his team won the second vote after Jacobson "hinted to voters that Gundlach and his new start-up DoubleLine were going to be hit by some bad news, according to two people on the conference [teleconference, that is]."

Two weeks later TCW filed a lawsuit against Gundlach, several associates, and DoubleLine, charging theft of trade secrets among other things. The lawsuit garnered headlines with the sensational charge that TCW had found a cache of pornography and marijuana in Gundlach's private office.

So now we know how deep the bad blood runs. 

Edited by: Neil Anderson, Managing Editor

Stay ahead of the news ... Sign up for our email alerts now

 Do You Recommend This Story?

Return to Top
 News Archives
2024: Q3Q2Q1
2023: Q4Q3Q2Q1
2022: Q4Q3Q2Q1
2021: Q4Q3Q2Q1
2020: Q4Q3Q2Q1
2019: Q4Q3Q2Q1
2018: Q4Q3Q2Q1
2017: Q4Q3Q2Q1
2016: Q4Q3Q2Q1
2015: Q4Q3Q2Q1
2014: Q4Q3Q2Q1
2013: Q4Q3Q2Q1
2012: Q4Q3Q2Q1
2011: Q4Q3Q2Q1
2010: Q4Q3Q2Q1
2009: Q4Q3Q2Q1
2008: Q4Q3Q2Q1
2007: Q4Q3Q2Q1
2006: Q4Q3Q2Q1
2005: Q4Q3Q2Q1
2004: Q4Q3Q2Q1
2003: Q4Q3Q2Q1
2002: Q4Q3Q2Q1
 Subscribe via RSS:
Add to My Yahoo!
follow us in feedly

©All rights reserved to InvestmentWires, Inc. 1997-2024
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use