Jeffrey Gundlach

Jeffrey Gundlach studied mathematics and philosophy at Dartmouth College, intending to pursue a PhD in mathematics before shifting to finance. He joined TCW Group in 1985 and spent 25 years building its fixed income franchise, specialising in mortgage-backed securities and structured credit. During the mid-2000s housing boom Gundlach warned of the dangers of subprime mortgage exposure — a prescient call that positioned his funds well for the 2007-2008 housing collapse. He was fired by TCW in December 2009 in a dispute over the firm's strategic direction. Within days he founded DoubleLine Capital, and in an extraordinary demonstration of client loyalty, most of his team and a large portion of TCW's AUM followed him. DoubleLine launched in January 2010 and reached $1 billion in assets in its first two months — an astonishing pace. The DoubleLine Total Return Bond Fund grew to over $60 billion, one of the largest bond funds in the world. Gundlach is known for his detailed macroeconomic analysis, his willingness to make specific market calls publicly, and his contrarian perspectives on interest rates and US fiscal policy. He has been called the "New Bond King" in media coverage, succeeding Bill Gross in that designation. His annual forecasts, released each January, are closely followed by institutional investors. DoubleLine has grown to manage over $130 billion across fixed-income, equity, and multi-asset strategies.