If Jeffrey Gundlach
is the new bond king, then it's time to meet Gundlach's crown prince.
In a five-page profile
(initially titled "King Me", later tweaked to "Glory To The New Bond King"), Forbes'
Matt Schifrin details the rise of the 55-year-old DoubleLine
] CEO (now a billionaire). The piece also offers another glimpse at Gundlach's part in the recent Bill Gross
drama, as well as some investing and non-investing comments from Gundlach.
And the article also highlights four of Gundlach's lieutenants, all PMs: Bonnie Baha
on global developed credit, Vitaliy Liberman
on mortgage-backed securities, Luz Padilla
on emerging markets, and Jeffrey Sherman
on multi-asset strategies and new product development. Forbes
dubs 37-year--old Sherman as "emerging as the front-runner to eventually succeed Gundlach."
Fundsters interested in some of the latest Gundlach quotes on a variety of subjects, from Pimco to interest rates to labor force issues in countries like Russia and Italy, or those who want an up-to-date refresher on the Los Angeles-based mutual fund shop he built, may want to read the full article
. Here's a juicy tidbit: Oaktree Capital Management
invested $40 million in DoubleLine at launch five years ago for a 20-percent stake, a stake now estimated to be worth nearly ten times as much, even after Oaktree has taken more than $90 million in distributions since DoubleLine launched.
Oh, and Gundlach has tried his hand at painting in the style of the "double line" style of Piet Mondrian
(which inspired Gundlach's firm's name). Gundlach says it's "surprisingly hard" to paint the Mondrian way.
Neil Anderson, Managing Editor
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