Jeff Gundlach: Cover Your Ears, People Are Screaming

When Jeffrey Gundlach hosts a Web presentation, people listen — at least to make sure the bond trader doesn’t call them out for contributing to the current economic malaise. Gundlach, a high-profile, fixed-income expert (and a former Morningstar Fund Manager of the Year), has a habit for speaking his mind.

This week, the CEO and chief investment officer of DoubleLine Capital, gave a presentation titled Deficits Don’t Matter — in which he argued that deficits really do matter. He refuted Dick Cheney’s 2002 assertion that “Reagan proved that deficits don’t matter,” noting, “Obviously deficits do matter, and today they seem to matter at an accelerated rate.” And then, in a masterfully nonpartisan rant, he went on to criticize both Mitt Romney, for his support for low taxes, and Barack Obama, for overlooking the fact that low participation is compressing the unemployment rate. Read more…

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