Jeff Gundlach: Junk Bond ‘Geniuses’ Just Lucky As Hell, Won’t Stay That Way

Also he’s a teensy bit worried about some things this year.
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For a guy who once kept the entire contents of a West Hollywood adult emporium in his unlocked office, Jeff Gundlach is not the sort to press his luck. Especially not with the federal government putting things on plastic like it’s Jeff Gundlach at the Pleasure Chest. If you don’t want to end up like Bill Gross, he recommends that you adopt a similar posture, especially if you think the money you’ve made on junk bonds lately is anything but dumb, incredible luck.

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Investors should use the recent strength of junk bonds “as a gift, and get out of them,” focusing instead on companies with strong balance sheets this year. “That’s going to be the way to survive the zigzags in 2019.”

Ah, yes, the zigzags: Expect a lot of them. Having soured on Trumponomics, a guy who’s had a couple of wild rides in his life is expecting a few more, like say an endless government shutdown as needless and short-sighted as a trade war with China, and/or maybe a recession, and/or maybe Jay Powell doing some more dumb stuff, and/or maybe not, and/or some dollar weakness driving some (relatively) nice returns in emerging markets, and/or the kind of alluring trap that the likes of say, Bill Gross, tend to fall into in Europe. Of course, if you’re into that kind of thing, there’s always bitcoin.

On Bitcoin, which he rightly predicted would fall last year, Gundlach said in this year’s presentation that the cryptocurrency’s price could easily make it to $5,000. But it’s “not for the faint of heart,” he said.

Gundlach Likens Rising Debt to Shoppers Maxing Out Credit [Bloomberg]

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Want To Earn $100,000 The Hard Way, You Dirty Little Bitch? Give Jeffrey Gundlach A Call

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. Mr Gundlach has reportedly offered a $100,000 reward for the return of his property. $1,000 is also being offered for information leading to the arrest and conviction of those who carried out the raid, according to Santa Monica police. And to the burglars, if you're reading this, Gundlach will see your asses in court (the real kind, unless you want to settle this in Bondage Nookie Court in which case, get in touch with this lawyer). Multimillionaire financier victim of $10-million heist [LA Times] Thieves snatch $10million haul of fine art, jewellery and a Porsche from home of wealthy banker dubbed the 'Bond God' [DM] Related (...?): Jeffrey Gundlach NOT Set Up By TCW, Big Fan Of “Dr. Fellatio” Series