Jeff Gundlach was riding high with one super-contrarian pair trade (long natural gas/short Apple) that has been doing amazing ever since he proposed it.
But here’s one that’s not doing so hot.
On May 16, he proposed going long Spain, short the S&P 500, with the same idea … go long the most hated asset in the world, while shorting the one market that was holding up.
Well, that’s a disaster.
Long EWP (the Spain ETF) and short PY (the S&P ETF) is down about 5 per cent today.
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