JEFFREY GUNDLACH
The "New Bond King" who runs DoubleLine Capital and is known for prescient macro calls and combative TV appearances
Jeffrey Gundlach was fired from TCW Group in 2009, immediately started DoubleLine Capital, and within three years had $50 billion under management — most of it from TCW's own clients who followed him out the door. TCW sued him. He sued TCW. He won. DoubleLine grew to over $130 billion in assets, making Gundlach the heir to Bill Gross's "Bond King" throne. He correctly predicted Trump's 2016 victory when virtually every pundit called it wrong. He called the 2018 market correction. He predicted inflation would spike in 2021 before most of Wall Street. He is brilliant, combative, and absolutely convinced he is the smartest person in every room. He might be right.
Net Worth
$2.2 billion
Nationality
American
Time Horizon
Medium-Term
Risk Appetite
6 / 10
CAREER & BACKGROUND
Started career at TCW Group in 1985 and spent 24 years there, eventually becoming CIO of the fixed-income group. Fired in December 2009 amid allegations of plotting to start a rival fund.
Founded DoubleLine Capital in December 2009 with four colleagues. Within 12 months, DoubleLine had $12 billion in AUM — one of the fastest asset-gathering launches in fund management history.
TCW sued Gundlach. He countersued.
Gundlach won $67 million in damages. DoubleLine grew to over $130 billion at its peak.
Gundlach was named Morningstar's Fixed-Income Fund Manager of the Year in 2014. Known for bold predictions: correctly called Trump's 2016 election victory, the 2018 stock market correction, and the 2021-2022 inflation surge.
COMPANIES & ROLES
DoubleLine Capital (founder/CEO/CIO)
INVESTING STYLE & PHILOSOPHY
Gundlach is a fixed-income investor who combines deep credit analysis with top-down macro views. He specializes in mortgage-backed securities, government bonds, and credit markets.
Unlike many bond managers who simply clip coupons, Gundlach makes directional bets on interest rates, credit spreads, and economic trends. He is comfortable being publicly contrarian and uses financial TV as a platform to share (and promote) his views.
THE PLAYBOOK
Risk Approach
Moderate to high. Gundlach takes concentrated positions in fixed-income markets and makes bold macro calls.
Being wrong on interest rate direction in a $130 billion portfolio can be very expensive. His willingness to make specific, public predictions also creates reputational risk.
However, his focus on mortgage-backed securities and credit generally limits downside compared to pure equity investing.
Money Habits
Lives in a modern mansion in Los Angeles filled with contemporary art. He is a serious art collector — his collection is reportedly worth hundreds of millions.
He drives a BMW i8. Known for hosting elaborate parties.
He once had his art collection appraised at over $200 million. Donated $42 million to the Buffalo Museum of Science.
BIGGEST WIN
The DoubleLine launch and rapid asset gathering. Going from fired to $50 billion in AUM in three years — largely by convincing his former clients to follow him — is one of the most impressive comebacks in asset management history.
His consistent outperformance of the Bloomberg Aggregate Bond Index has generated billions in excess returns for investors.
BIGGEST MISTAKE
DoubleLine has experienced significant outflows in recent years as higher interest rates reduced demand for active bond management and Gundlach's more recent calls have been less prescient. The fund's AUM has declined from its $130 billion+ peak.
His bearish stance on the dollar and calls for recession have been premature at times.
FINANCIAL PHILOSOPHY
Gundlach believes in studying data intensively and following the evidence rather than consensus. He is a contrarian who enjoys taking unpopular positions.
He views the bond market as the most important economic indicator and believes most equity investors ignore fixed-income signals at their peril. He has compared macro investing to chess — thinking several moves ahead.
FAMILY & PERSONAL LIFE
Private about family life. Based in Los Angeles.
Known for his art collection and contemporary lifestyle.
EDUCATION
Bachelor's degree in Mathematics and Philosophy from Dartmouth College. MBA from Yale School of Management.
BOOKS & RESOURCES
And is a fan of contrarian economic thinking
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QUOTES (6)
The bond market tells you more about the economy than any stock index ever will. Equity investors who ignore bonds are flying blind.
Art is the only asset class that has never gone to zero. My collection is worth more than most hedge funds.
Inflation is not transitory. I said that in 2021 when the Fed was still using that word. It was obvious to anyone reading the data.
I do not follow consensus. Consensus is the average of everyone else's wrong opinions.
I was fired on a Friday and started DoubleLine on Monday. Within a year my old clients brought me 12 billion dollars. Loyalty is earned.
I predicted Trump would win in 2016 when everyone said it was impossible. I was reading the data. They were reading Twitter.
NETFIGO SCORE
Proprietary 5-dimension investor rating
Risk Appetite
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