Who would buy 30-year Treasury bonds? DoubleLine CEO Jeffrey Gundlach for one—he has them in his personal account.

That's how confident he is that quantitative easing is here for a long time. A good trade might be owning the U.S. long bond and shorting French debt, he suggested to a group of financial advisors in New York City.

In a presentation entitled, "Why Own Any Bonds At All," Gundlach discussed several sectors of the bond market he likes. They include emerging market sovereign debt, with an yield of 4.1 percent; emerging market corporate debt, yielding 4.7 percent on average; non-residential mortgage-backed securities at 6.0 percent; bank loans at 6.26 percent; and global high-yield debt at 6.64 percent.

Corporate profits are at all-time highs, making bank loans attractive. Even if corporate profit margins revert to the mean, it wouldn't hurt most creditworthy borrowers, though it could damage equities.

After famously advising investors to short shares of Apple last year, Gundlach was asked what stock he would sell short next. He suggested Chipotle. The stock "crashed and clawed its way back" but it still has a very high P/E ratio. Conceivably, the company could grow into its multiple.

But "a gourmet burrito is an oxymoron," Gundlach told attendees.