Jeffrey Gundlach Says Almost All Financial Assets Are Now Overvalued

In this episode of the Odd Lots podcast, hosts Tracy Alloway and Joe Wiesenthal interview Jeff Gundlach, founder and CEO of DoubleLine Capital, about his concerns regarding the treasury and credit markets. Gundlach expresses worries about the financing of long-term treasuries due to inflationary policies and the increasing issuance of short-term treasuries. He critiques private credit markets, likening them to subprime mortgages due to leverage and lack of transparency, and suggests the next financial crisis will originate there. Gundlach advises investors to reduce exposure to dollar-based assets, advocating for non-US equities, gold, and cash. He also discusses the potential for the government to manipulate interest rates and restructure treasury debt, and shares his investment strategy, emphasizing the importance of a balanced time horizon.