Man Of Many Enthusiams Enthusiastic About Last Month

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

Among the winners is Jeffrey Gundlach's $31 billion DoubleLine Total Return Bond Fund at DoubleLine Capital LP. The fund, which invests in high-grade U.S. mortgage-backed securities and Treasury bonds, handed investors a return of 2.21% in January, beating 99% of its peers, according to fund tracker Morningstar Inc. The fund returned 0.02% in 2013….

Mr. Gundlach declined to comment Wednesday. In a webcast to investors in January, Mr. Gundlach said he expects the 10-year Treasury yield could drop back down toward 2.50%.

The 10-year Treasury yield rose Wednesday to 2.668% from 2.622% late Tuesday after a report showing faster expansion in the U.S. service sector dented buying in the safe-haven market. However, the yield is still lower than the 3.03% where it was at the end of last year.

Jeffrey Gundlach, Bill Gross Reap Windfalls From Treasury Rally [WSJ]

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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: