Jeff Gundlach Held A Webcast About Sinks. He’s Bearish.
"I will doing a webcast tomorrow March 31, 2020 at 4:15 pm EDT", Jeff Gundlach declared, in a presumptuous Monday tweet that could have walked right out of the presidential Twitter feed. "The title is 'A Tale of Two Sinks' which, as always, contains many layers of meaning".
"Many layers of meaning" - you can't help but chuckle. Jeff is a character, and like many titans of finance, he's living proof that no matter how successful and actually important you become, it's still possible to harbor de
I enjoyed this. He appears intelligent, but repeatedly claimed stocks were in a bear market when they were at all time highs. Must have been quite a panic at Doubleline a few weeks back–He should be thanking Powell for saving his muni and IG funds from total destruction.
Well I was interested until i saw the sinks were not sinkholes which are far more interesting and cannot be hung on a wall. Unless they are blue chip art.
Such an interesting contrast between him and Dallio. Is it only liberals like me that think humility (feigned or real) is a pre-requisite for credibility?
I don’t know. False self-deprecation aside Dallio comes across as rather full of himself as well.
In his recent missives that Heisenberg has posted on this site, Dallio presents his predictive model as a unique system that he developed himself instead of the commonplace application of probability theory combined with empirical methodology that it is. What will Ray do for an encore in future posts, present Bayes’ theorem as Dallio’s rule?
The US government cannot go broke, it can ultimately order companies to make stuff and accept freshly minted dollars. A real concern should be… what happens when we legitimately cannot handle this crisis in health terms? What happens when supply chains fail and people are hungry and sick? Even if it’s a small percentage of the population it’s a lot of unhappy and desperate people. The government is calling up retired military to volunteer to reenter service. We have a shortage of skilled personnel, equipment and time. March wasn’t anything like a low, it was bouncing off a rock while sliding off a cliff. This is why waiting so damn long to take this seriously was insane. We had a window to keep this manageable and it passed, now we need to keep it survivable and we’re just barely acknowledging we need to do anything.