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Wednesday, May 4, 2016
Gundlach Versus Presidential Campaign Slogans
"I think you need to prepare for a Trump presidency."
In addition to predicting a Trump win in six months, Gundlach also tackles bizarro presidential campaign logos and slogans, central bankers as inscrutable as modern painters, and even a couple of investment picks.
Gundlach has been forecasting a Trump victory at least since January. And the bond fund guru offers a prediction as to what a Trump presidency could mean for the economy: another debt-boom a la the 1980s under President Reagan.
"Let's face it, Donald Trump is extremely comfortable with debt," Gundlach says.
The Los Angeles-based bond fund PM takes on a host of historical presidential candidates' slogans and buttons before turning to the most recent crop of contenders. He called Trump's "Make America Great Again" slogan reactionary and notes that it's only a slimmed down version of Reagan's 1980 button slogan: "Let's Make America Great Again."
Jeb Bush's slogan, "Jeb!", should've been "WTF?" Gundlach suggests. Next to Ted Cruz's "TRUSTED", Gundlach found a picture of Cruz that looked like he was auditioning for the Munsters. A simple H including an arrow for Hillary Clinton, Gundlach says, simply means "You're going sideways," and her "What difference does it make?" comment he likens to President Richard Nixon's infamous comments about presidents' actions not being illegal.
As for investing tips, Gundlach mocks a "low-volatility stock fund" as inevitably anything but. And he recommends shorting a utilities and investing in mortgage REITs, thanks in part perhaps to divergent investor behavior in ETFs tracking the two sectors.
The conference gathers more than 3,000 people and features big name investors, mostly hedge fund types, sharing their investing tips in just 20 minutes each. All the money raised at their conferences (worldwide, now expanding into India) goes to fighting childhood cancers and helping its victims and survivors. Evan Sohn, brother of the deceased namesake of the charity, tells reporters at the conference that with today's conference they've now raised more than $70 million since 1995.
New York Giants quarterback Eli Manning made an appearance to support the new Sohn Manning Pediatric Cancer Survivor Program at Hackensack University Medical Center. Other speakers featured so far today include: Larry Robbins, Carson Block, John Khoury, Chamath Palihapitiya, Jeffrey Smith, Richard Deitz, and Stan Druckenmiller. Coming up soon will be Zachary Schreiber, Adam Fisher, David Einhorn, and James Chanos
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