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I would never second guess Jeff Gundlach or for that matter Dan Ivansyn. Gundlach took out a small position in Puerto Rico munis and then doubled down recently. Time will tell.
I also like Gundlach as well. With respect to opporties, I like Europe since it is still in the early stage of recovering (QE and all) and thus has better chance of market moving upward. Can Japan' recovery sustain? EM requires both long term view and skillful active management. David' interview with Andrew Foster was particularly insightful.
@Sven, I agree. I feel more positive than ever that Japan may be moving forward. The Great Tohoku Quake had a major impact on the country's economy yet they are still moving forward. Europe is responding to their intervention but the long term is not clear to me. The idea of paying for a bond is new. ( negative interest rates).
Comments
In addition to his stake in PR municipal bonds, he recently agreed with Bill Gross in shorting the German bond, but he wants to amp it up 100 times:
http://www.bloomberg.com/news/articles/2015-04-28/gundlach-considers-100-times-levered-wager-against-german-bonds
Your choice...