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Oct 2021

Jeffrey Sherman: 2 Wild Cards That Could Derail the Economy – ThinkAdvisor Oct. 2021

“Investors need to be worried about inflation. But it’s not a stagflation world yet,” Jeffrey Sherman, deputy chief investment officer at DoubleLine, tells ThinkAdvisor in an interview. “The best asset class to hedge against inflation is commodities,” he argues. The lead portfolio manager for multi-sector and derivative-based strategies at DoubleLine, of which Jeffrey Gundlach is CEO, Sherman forecasts inflation next year at about 3.5%. The current rate is 5.4%. As for the stock market and overall U.S. economy, both will further “moderate.” But “that doesn’t mean we’re going into a contraction,” Sherman, based in Los Angeles, says.
In fact, his outlook for the corporate-environment economy for the next 12-18 months is, in his own words, “pretty rosy.” Next year, he expects 3%-4% growth even as earnings growth will slow, he predicts.

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  • Jeffrey Sherman, CFA

    Jeffrey Sherman, CFA

    As DoubleLine’s Deputy Chief Investment Officer, Jeffrey Sherman oversees and administers DoubleLine’s Investment Management sub-committee coordinating and implementing policies and processes across the investment teams. He also serves as lead portfolio manager for multi-sector and derivative-based strategies. Mr. Sherman is a member of DoubleLine’s Executive Management and Fixed Income Asset Allocation Committees. He can be heard regularly on his podcast “The Sherman Show” (Twitter @ShermanShowPod, ShermanShow@Doubleline.com) where he interviews distinguished guests, giving listeners insight into DoubleLine’s current views. In 2018, Money Management Executive named Jeffrey Sherman as one of “10 Fund Managers to Watch” in its yearly special report. Prior to joining DoubleLine in 2009, Mr. Sherman was a Senior Vice President at TCW where he worked as a portfolio manager and quantitative analyst focused on fixed income and real-asset portfolios. He was a statistics and mathematics instructor at both the University of the Pacific and Florida State University. Mr. Sherman taught Quantitative Methods for Level I candidates in the CFA LA/USC Review Program for many years. He holds a B.S. in Applied Mathematics from the University of the Pacific and an M.S. in Financial Engineering from the Claremont Graduate University. Mr. Sherman is a CFA® charterholder.