Among his other comments:
• The current liquidity problem will make buybacks all but impossible, which means one of the “pillars” of the stock market is disappearing.
• On gold, Gundlach said the metal will ultimately hit a new high. But he isn’t big on gold miners right now using the strength in the last several days to sell out of the VanEck Vectors Gold Miners ETF.
DoubleLine Total Return, which focuses mostly on mortgage-backed securities and avoids corporate debt, returned 2.4% this year through Monday, outperforming 87% of its peers, according to data compiled by Bloomberg. Its five-year average return is 3.4%, beating 84% of competitors. Los Angeles-based DoubleLine oversaw about $155 billion as of the end of February, mostly in fixed-income assets.
--With assistance from Melissa Karsh, Anny Kuo and Andrew Dunn.
This article was provided by Bloomberg News.