DoubleLine LLC

DoubleLine Capital, the bond management firm run by Jeffrey Gundlach, said on Monday it had hired an executive from rival Pimco to run a new unit focused on developing new investment products and lines of business, particularly outside the United States. DoubleLine named Ignacio Sosa, previously Pimco’s executive vice president for global bond product management, director of its newly formed Product Solutions Group. He starts on May 12 and will report to Gundlach. Sosa’s departure comes after a management shakeup and months of investor outflows at Newport Beach, California-based Pimco. [Reuters, related]

  • 06 Feb 2014 at 1:53 PM

Man Of Many Enthusiams Enthusiastic About Last Month

He’s not quite ready to throw a party or sing, but Jeffrey Gundlach sure is glad he was wrong about the Fed taper. Read more »

  • 05 Dec 2012 at 4:26 PM

Jeffrey Gundlach Had A Little Party Last Night

December 7, 1941. November 22, 1963. December 4, 2009. All dates of such historical and cultural significance that if you asked someone where they were that day, they’d surely be able to tell you. Because they weren’t just any old days; they were moments when everything changed. The bombing of Pearl Harbor; the assassination of JFK; and, perhaps most importantly, the firing of Jeffrey Gundlach from the TWC Group, which had taken issue with his decision to start his own firm, and choose to express that anger by first escorting him out of the building and second raiding his offices, where they found an amount of adult films and sexual devices that suggested Gundlach was operating an online wholesale sex shop distributor and keeping the inventory at work. TCW also sued its former employee and at the time, rather than roll over and take it which is something he would never do, Gundlach vowed to fight back and clear up the misconception that TCW was the victim in the situation. On the contrary, JG told people, the real victim was US taxpayers who were “promised” Gundlach’s services and had to settled for a subpar bond manager when his relationship with the firm was terminated. Gundlach ultimately emerged victorious* and perhaps even more satisfying to The Pope was the number of TCW employees and clients who followed him en masse to his new company, the aptly named DoubleLine Capital. We’re not sure how you celebrated last night’s hugely significant anniversary, but we do know how Gundlach did: Read more »

As you may have heard, at some point last week, bond manager Jeffrey Gundlach was robbed. Thieves took $10 million worth of stuff from the Doubleline founder’s Santa Monica pad, including a couple of paintings, a few watches, some high-priced wine, a 2010 Porsche Carrera 4S, and whatever cash was lying around. While it’s unclear if the burglars made away with Gundlach’s collection of priceless pornographic films and sexual apparatus; if he was targeted specifically because the thieves knew they could get their hands on the original copy of Dr. Fellatio 16; or if they were tipped off by JG’s regular pizza delivery guy, cable repairman, or pool boy, what is clear that Gundlach is pissed, pissed like a man who is no longer in possession of Ass Traffic Volume 2: The Director’s Cut.  And that’s where you come in. Read more »


Gundlach, second from right, with the members of Radical Flats, which included his wife, second from left. Gundlach was still in the band during his early years at TCW. He showed up for his first day on the job having “mastered the math in Sidney Homer and Martin Leibowitz’s Inside the Yield Book” which, he says, “Very few people can do. Like, very few. I quickly realized I knew more than most people who worked at TCW for years.” [BW]

But, of course, only on Fridays and Saturdays:
Read more »

“Gundlach was found today to have breached his fiduciary duty to TCW and misappropriated its trade secrets.The Los Angeles jury awarded the company no damages on the breach claim…The jury found that Gundlach and DoubleLine didn’t act willfully and maliciously in misappropriating trade secrets.” [BW, earlier]