DoubleLine’s Jeffrey Gundlach is the fixed-income guru you’ve probably never heard of. But you should listen to what he says.
When Jeffrey Gundlach talks, people listen. The colorful and dynamic fund manager isn’t a household name, but to the cognoscenti of the fixed-income world his word is gold, and they tune in to his regular webcasts to hear Gundlach’s view of the markets and the economy. // Why? Because he’s a brilliant bond investor. Gundlach called the subprime mortgage market an “unmitigated disaster” in June 2007, more than a year before the worst losses of the financial crisis hit. In mid 2016, he correctly predicted that 10-year Treasury interest rates would begin to rise, while others expected them to fall. And he’s steered his most popular funds, DoubleLine Total Return Bond (a longtime Kiplinger 25 member) and DoubleLine Core Fixed Income, to the top of the charts, posting five-year annualized returns that beat 90% of their peers and the bond benchmark, the Bloomberg Barclays U.S. Aggregate Bond index.
But Gundlach, a DoubleLine founder and its chief executive and chief investment officer, is a good listener, too.
Every month, 40 investment team members gather in the so-called Warhol room in DoubleLine’s downtown Los Angeles office (an Andy Warhol original hangs there). It’s the firm’s biggest conference room, but at these meetings, it’s standing room only. The team, led by Gundlach, is there to discuss how the firm’s money will be best put to work in the bond market.
The meeting is a window on the strategy of an actively managed fund shop that, for the most part, is beating its benchmarks—a rarity in the investing world. Of the six DoubleLine funds with five-year track records, four portfolios—Core Fixed Income, Low Duration Bond, Shiller Enhanced CAPE and Total Return Bond—outpaced their bogeys over the past five years on an annualized basis.
この記事は Kiplinger's Personal Finance の February 2019 版に掲載されています。
7 日間の Magzter GOLD 無料トライアルを開始して、何千もの厳選されたプレミアム ストーリー、9,000 以上の雑誌や新聞にアクセスしてください。
すでに購読者です ? サインイン
この記事は Kiplinger's Personal Finance の February 2019 版に掲載されています。
7 日間の Magzter GOLD 無料トライアルを開始して、何千もの厳選されたプレミアム ストーリー、9,000 以上の雑誌や新聞にアクセスしてください。
すでに購読者です? サインイン
MAKING A DIFFERENCE IN THE LIVES OF DISABLED VETERANS
He suffered grave injuries in the line of duty. Now he helps other veterans who have disabilities.
DO YOU NEED UMBRELLA INSURANCE?
A policy can protect you from financially devastating events.
Navigating Finances as a Blended Family
Money matters can get complicated when two families unite. Planning is key.
BREAKING UP WITH YOUR BROKER
Be aware of these challenges when you move your money to a new home.
CHOOSE A MEDICARE PLAN THAT'S RIGHT FOR YOU
Consider your health care needs over the long term as you weigh costs and coverage.
Keep Faith in These Stocks
IN 1997, I coined the phrase “faith-based investing.” It has nothing to do with religion or with picking stocks at random.
OUR ESG PICKS ARE THRIVING
Despite an ongoing backlash, our favorite stocks and funds focused on environmental, social and corporate governance issues had a good year overall.
MONEY MANNERS FOR THE MODERN AGE
The customs for splitting a restaurant check, purchasing a wedding gift, tipping and more have evolved. These guidelines can help.
ELECTION 2024: POLITICS AND YOUR PORTFOLIO
Who wins the White House matters—but only at the margins when it comes to your investments.
YOUR GUIDE TO OPEN ENROLLMENT
With health care costs on the rise, it’s critical to select a plan that fits your needs at the right price.