Jeffrey Gundlach: prepare for four more years of Trump
Donald Trump will be re-elected as US president in November, reckons Jeffrey Gundlach, America’s best-known bond investor.
Jeffrey Gundlach, chief executive, DoubleLine Capital
Polls showing Trump's rival Joe Biden with a commanding lead are “very, very squishy right now because of the highly toxic political environment in which we live”, he told a webcast for investors in DoubleLine’s funds, reports ThinkAdvisor. Many conservatives “have lied about their support for Donald Trump… maybe people aren’t really getting the right read from polls”.
Gundlach – who predicted Trump’s victory in 2016 – was also critical of Biden’s choice of Kamala Harris (pictured) as his vice-presidential candidate on the basis that “she’s a little too charismatic … a little too dominant with her personality”– qualities that might normally be seen as an asset in a politician.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Regardless of who wins, Gundlach isn’t optimistic about US Treasury bonds, largely due to the soaring US budget deficit, which is “getting almost surreal”. He believes that that the gold price “will ultimately go much higher because… the US dollar is going to go much lower” (gold is mostly traded in dollars, so a weak dollar means higher gold prices). However, that’s a longer-term bet; for now, the dollar’s weakness “is probably nearly over” and so gold has reached its short-term high. The stockmarket rally is “getting long in the tooth” and stocks could even retest March’s lows. But investors should still hold some stocks as protection against higher inflation, together with gold and a substantial amount in cash as a hedge against deflation.
Get the latest financial news, insights and expert analysis from our award-winning MoneyWeek team, to help you understand what really matters when it comes to your finances.
MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.
-
‘Inheritance tax insurance’ enquiries are soaring – but is it worth it?
Premiums for whole of life insurance can run to £5,000 a month to cover a £300,000 inheritance tax bill, with policies costing more the older you take them out.
-
MPs warn over Lifetime ISAs which could leave savers out of pocket
The Treasury Committee has highlighted confusion around the Lifetime ISA withdrawal charge, which risks consumers losing “a significant part of their savings”
-
Is Donald Trump putting the US dollar in danger?
Donald Trump's administration sees one of its greatest advantages – the US dollar – as a burden. Gold is the obvious beneficiary, says Cris Sholto Heaton.
-
Trump eyes private foundations to raise tax. Will philanthropy decline?
The picture is mixed, but philanthropy on the whole is alive and well, says Simon Wilson
-
Donald Trump has one last chance to avert a recession in the US
Opinion Trump's chaotic policymaking has hurt businesses’ confidence. The US president must get his act together to avoid a full-blown recession, says Matthew Lynn
-
'Rachel Reeves' plan to force pension funds into UK assets won't work'
Opinion Hustling pension fund cash into British assets sounds like a good idea. It would be better to make Britain an attractive place to invest, says Matthew Lynn
-
Supersonic travel: How China could 'leapfrog' US and Europe's commercial aviation industry
Opinion Innovation in commercial aviation has been stuck for 60 years. A commercial supersonic jet might be back on the market soon, but will China get there first?
-
How British businesses can tackle Trump's tariffs
The majority of British businesses are likely to take a hit from the chaos caused by Trump’s tariffs to reorder global trade. Companies in the firing line face some difficult decisions, says David Prosser
-
Trump’s tariffs: what is he thinking and how should the UK respond?
Every right-thinking person knows that free trade is a surer route to the wealth of nations than protectionism. So, what is Trump thinking?
-
Trump wants to colonise Mars – will it happen?
Donald Trump wants to plant the US flag on Mars. Could humans really live there?