Jeff Gundlach: Sell Everything Except Gold

CEO Jeffrey Gundlach of investment firm DoubleLine Capital recommends investors sell out of every asset class imaginable — except gold.

Gundlach said in a recent interview that the combination of weak economic growth, historically high S&P 500 valuation, anemic corporate earnings, and extreme levels of complaceny have created a hazardous investing environment.

“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 is particularly down on Treasuries, and although his firm always holds some of them, his feeling is “maximum negative” on U.S. bonds. That’s no surprise, given that yields are at all-time lows.

The only things Gundlach’s fund is still bullish on are gold and gold miner stocks. Gold is a traditional hedge against inflation and a potential downturn in equities.

The SPDR Gold Trust ETF (NYSE:GLD) closed on Friday at $128.98 per share, up $1.28 (+1.00%). The world’s largest gold ETF has gained 27% since the start of 2016.

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