Portfolio Manager Sam Garza hosts this DoubleLine macro talk with CEO-CIO Jeffrey Gundlach that begins with Mr. Gundlach recounting how an episode of “Lifestyles of the Rich and Famous” sparked his investment career. In the macro portion of this webcast, Mr. Gundlach discusses how analysts in 2023 misforecast the most expected recession ever (10:40), why when the recession does arrive it will be a “very, very ugly experience” (17:04) and how the Federal Reserve’s announced tapering of QT points the way forward on Fed policy strategy (20:00).
Topics that Mr. Gundlach also covers include his outlook for bonds in the medium term (22:31), how he would structure a portfolio in today’s environment (25:17), his thoughts on global assets (28:45), what he sees as the biggest risks to global markets (34:20) and the most important lesson he’s learned in his career (41:33). This discussion was recorded May 9, 2024.
Mr. Gundlach is CEO of DoubleLine. In 2011, he appeared on the cover of Barron's as "The New Bond King." In 2013, Institutional Investor named him "Money Manager of the Year." In 2012, 2015 and 2016, he was named one of "The Fifty Most Influential" in Bloomberg Markets. In 2017, he was inducted into the FIASI Fixed Income Hall of Fame. Mr. Gundlach is a summa cum laude graduate of Dartmouth College, with degrees in Mathematics and Philosophy.
Mr. Garza joined DoubleLine in 2009. He is a Portfolio Manager overseeing both the Macro-Asset Allocation and CLO teams. He is a permanent member of the Fixed Income Asset Allocation and the Structured Product Committees. Prior to DoubleLine, Mr. Garza was a Senior Vice President at TCW where he held several positions over his tenure there. Prior to TCW, he worked at Union Bank of California in the Commercial Banking Group where he was involved with corporate loan underwriting. Mr. Garza holds a BA in Business Economics from the University of California, Santa Barbara and an MBA from the Anderson School of Management at the University of California, Los Angeles.
