Notes from the DoubleLine Lunch with Jeffrey Gundlach
Joshua M Brown September 29th, 2011
Yesterday Barry and I had the pleasure to meet Jeffrey Gundlach and attend the DoubleLine Luncheon at the New York Yacht Club. If you’ve never been, the club is on 44th Street (a block from my office) and you can tell it by the second floor windows which are shaped like the bow stern of a ship. The dining room has a three-stories high stained-glass ceiling and is laden with ornately carved wooden accents, maritime artifacts and models of all the yachts that have defended the America’s Cup for the last century and a half. It’s really a mind-blowing space that many native New Yorkers don’t even know about.
Jeffrey Gundlach, who possesses one of the most fascinating investing intellects of our time, was there to greet the guests in a gray-checked suit with bright red tie and pocket square in the foyer. For the uninitiated, Jeffrey opened his own asset management shop, DoubleLine, in Los Angeles two years ago. Since then, he’s raised about $16 billion starting from zero. This is an astounding feat and no one has ever seen anything like it in Wall Street history. On top of that, he’s managed to absolutely crush his peers in the bond market year-to-date with an elegant risk-offsetting pairs trade that’s meant bigger yields than most of his competitors without compromising on liquidity, credit quality or duration. More on that later.
via Notes from the DoubleLine Lunch with Jeffrey Gundlach | The Reformed Broker.