Jeffrey Gundlach, CEO of DoubleLine Capital, has evolved his investment style over the years, and although he is still the "bond king", increasingly he has become multi-asset with a focus on getting the macro right.
In this interview with Real Vision CEO Raoul Pal, Gundlach explains how he thinks about time frames, position sizing based on asset class, and how his style changes based on whether the market is alpha or beta driven.
He also provides his current outlook, arguing that there is not much opportunity in this environment and that the most important thing at the moment is managing risk while patiently waiting for the next big trade.
He also touches on timely topics like the potential for a wave of insolvency, why he believes we are in the midst of The Fourth Turning, his skeptical view of bitcoin, and why he is bullish on the dollar in the short term despite his highest conviction macro view being pronounced dollar weakness. Filmed on October 1, 2020.
TIMESTAMPS:
00:01:00 Becoming the Bond King
00:08:06 Early Mistakes and Emotional Memory
00:20:46 Investment Framework: Macro and Time Horizons
00:32:50 Investment Framework: Position Sizing and Risk Management
00:37:00 Investing When Opportunity is Scarce
00:42:54 Current Market Outlook and Views on Inflation
00:52:57 Downgrades, Default, and Insolvency
00:58:05 The Fed and the Fourth Turning
01:04:44 Bitcoin Skepticism
01:07:39 Waiting for the Next Big Trade
#raoulpal #tradingstrategy #investingforbeginners
👉 Do you want even more content like this? And to see this video before we release it here? Become a member of Real Vision -- get started here: rvtv.io/membership
Thanks for watching Real Vision Finance!
About Real Vision™:
Real Vision™ is where you can gain an understanding of the complex world of finance, business, and the global economy with real in-depth analysis from real experts.
🔥 𝗚𝗘𝗧 𝟳 𝗗𝗔𝗬𝗦 of Real Vision’s insights for only $𝟭 (seriously!) rvtv.io/RVfor1dollar
🚀 Want to become a better investor or start from scratch? 👉 Join the Real Investing course now! rvtv.io/RVAcademy
Connect with Real Vision™ Online:
RV Crypto: rvtv.io/RealVisionCrypto
Twitter: rvtv.io/twitter
Instagram: rvtv.io/instagram
Facebook: rvtv.io/facebook
Linkedin: rvtv.io/linkedin​​​​​​​​​​​​​​​​
#Macro #finance #macroeconomy #markets #financialmarkets #bonds #stocks #oil #gas #commodities #equities #gold
Disclaimer:
This is pretty obvious, but we should probably say it anyway so there is no confusion…The material in REAL VISION GROUP video programs and publications {collectively referred to as “RV RELEASES”} is provided for informational purposes only and is NOT investment advice. The information in RV RELEASES has been obtained from sources believed to be reliable, but Real Vision and its contributors, distributors and/or publisher, licensors, and their respective employees, contractors, agents, suppliers, and vendors { collectively, “Affiliated Parties”} make no representation or warranty as to the accuracy, timeliness or completeness of the content in RV RELEASES. Any data included in RV RELEASES are illustrative only and not for investment purposes. Any opinion or recommendation expressed in RV RELEASES is subject to change without notice. RV Releases do not recommend, explicitly nor implicitly, nor suggest or recommend any investment strategy. Real Vision Group and its Affiliated Parties disclaim all liability for any loss that may arise (whether direct indirect, consequential, incidental, punitive, or otherwise) from any use of the information in RV RELEASES. Real Vision Group and its Affiliated Parties do not have regard for any individual, group of individuals, or entity’s specific investment objectives, financial situation, or circumstance. RV RELEASES do not express any opinion on the future value of any security, currency, or other investment instruments. You should seek expert financial and other advice regarding the appropriateness of the material discussed or recommended in RV RELEASES and should note that investment values may fall, you may receive less back than originally invested and past performances are not necessarily reflective of future performances. Well, that was pretty intense! We hope you got all of that - now stop reading the small print and go and enjoy Real Vision.