- Jeff Gondlach, the billionaire investor known as “Bond King”, expected A. RealVision Interview It was reported on Friday that stocks will collapse in less than 18 months.
- The CEO of DoubleLine Capital also said that the US dollar will decline in the long term, argued that technology stocks such as Apple and Amazon are the only US stocks worth owning, and questioned Bitcoin, the luxury and the Chipotle rating.
- Here are Gundlach’s 10 best quotes from the discussion.
- Visit Business Insider’s homepage for more stories.
in a RealVision Interview Bond King billionaire Jeff Gundlach, pictured Oct 1 and released on Friday, said stocks will collapse within 18 months, predicting the US dollar will fall in the long-term, and expressing doubts about Bitcoin.
Gundlach, founder and CEO of DoubleLine Capital, also called for a Chipotle valuation, criticized luxury, and argued that the only US stocks that make sense to own at the moment are the biggest technology stocks.
Here are Gundlach’s 10 best quotes from The Conversation, brief and slightly edited for clarity:
1. “Valuation makes absolutely no difference when you are in a real and brutal bear market. You just have to go to unbelievable prices.” – About the fraudulent 1994 bond market and how it prepared it for the financial crisis.
2. “I’m actually buying dollars now, although I don’t believe in it at all. It’s a good investment for the next five years.” Gondlach added that he was “extremely negative in the long run on the US dollar” due to the ballooning budget deficit and the potential for higher inflation, and that he sees the bet on it as “big business for the coming years”.
3. “If I want to invest for the great-great-grandchildren of my great-grandchildren, then I am sure that some real estate investment and certain investments in resources will be clear winners. Who cares about the great-great-grandchildren-great-grandchildren?” The need for fund managers to balance low risk for a longer investment timeframe with investor impatience.
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4. “If you want to own US stocks, you must own those six stocks knowing that you will take a bloodbath if you overstay your welcome … You just have to put your finger on the exit button or very close before, but I think this is it.” Your only chance to make money. ” People have been advised to own Apple, Amazon and other “big tech” stocks that have led the market in recent years.
5. “The person who just dazzled me is Chipotle. I can’t understand why the stock has tripled in the past six months. It just baffles me. Isn’t the P / E like 150 or something like that? That’s a lot of tacos.”
6. “I think in 18 months it’s going to crack quite a bit. When the next big crash happens, I think the United States will be the worst performing market.” Expect the stock market crash, which will be exacerbated by the weak dollar.
7. “It’s comic how people talk about modern monetary theory or universal basic income as a strange idea. We’ve been doing this since the 1960s. What do you think of luxury? It is universal basic income, only for a certain subset of the population. The problems are not exactly solved. In fact,” In my opinion, it made it much worse. “
8. “I don’t believe in bitcoin. I think it’s a lie. I think it’s very trackable and traceable. I don’t think it’s anonymous.” Gondlach later added that he is “not at all averse to Bitcoin.”
9. “The best thing I could put in the trunk of my car. I’d rather insert Mondrian on my wall over a digital entry of the same value.” – For his preference for material investments.
10. “It would be an interesting experience not to be in the car at the first wheel of the next roller coaster.” – About his cautious approach to investing in anticipation of a crash.
“Explorer. Devoted travel specialist. Web expert. Organizer. Social media geek. Coffee enthusiast. Extreme troublemaker. Food trailblazer. Total bacon buff.”