Jeff Gundlach was just on CNBC, mostly talking bonds, QE, politics — everything everyone is sick of talking about.
And then he got to equities.
Gundlach told CNBC’s David Faber that Tesla is “just fascinating.”
No, not because Elon Musk buys James Bond submarine cars.
This is not a good fascinating he’s talking about.
Gundlach pointed out that as Tesla’s stock is shooting up, Ford and GM are also in local highs. “There’s something wrong with this picture,” he said.
Not everyone can be a winner in the auto market. Someone has to win market share, and someone has to lose it.
“If Tesla’s really going to be this multiple tens of billions of company it’s going to come from somebody… It [the stock] is not something I would own.”
He also said the stock had a “cultish aspect” to it.
Gundlach also said he didn’t like Google. He doesn’t see growth for the company and said that with a $US300 billion market cap “it should be harvested in terms of capital gains.”