Photo: DoubleLine Funds
Bond god Jeff Gundlach is out with his first conference call/presentation of the year titled Year Of The Snake.The presentation represents his markets outlook for 2013.
Gundlach used the snake imagery because everything is “coiled” and ready to strike.
The economy, European debt markets etc. are all ready for a bang.
Our full notes from his call are here. His key calls:
- Bonds aren’t in a bubble.
- European debt isn’t attractive.
- Japanese stocks are still attractive long term, but at the moment it’s hard to be in love with them. Still there’s another 1000-2000 points left in the Nikkei.
- The “fiscal crisis” is a bigger deal than the fiscal cliff.
- Gold is going to make a strong move one way or another, won’t go sideways.
- Likes long Shanghai/short S&P.
- 30-year yield will be lower a year from now, but higher 3 years from now.
- Doesn’t like homebuilding stocks.
- Apple is going to $425.
We have his full presentation which is really just a gorgeous chart bonanza that all investors will enjoy clicking through to see what’s going on in markets in recent and long-term history.
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