Gundlach: Sell Everything

Noting the recent run-up in the benchmark Standard & Poor’s 500 index while economic growth remains weak and corporate earnings are stagnant, Jeffrey Gundlach, the chief executive of DoubleLine Capital, said stock investors have entered a “world of uber complacency.” …

“The artist Christopher Wool has a word painting, ‘Sell the house, sell the car, sell the kids.’ That’s exactly how I feel – sell everything. Nothing here looks good,” Gundlach said in a telephone interview. “The stock markets should be down massively but investors seem to have been hypnotized that nothing can go wrong.”

— Excerpt contributed by Jason Kelly

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Z-val: Jeffrey Gundlach
Via: Reuters
Date: 7/29/16
Disposition: Medium-Term Bearish
S&P 500 on 7/29/16: 2174
S&P 500 on 1/27/17: 2295
Change: +5.6%
Judgment: Wrong

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