DoubleLine's Gundlach says "lost decade" in stocks unlikely -call
NEW YORK, April 1
NEW YORK, April 1 (Reuters) - Jeffrey Gundlach, chief investment officer and chief executive of DoubleLine Capital LP, said Monday that another "lost decade" in stocks is unlikely and that lower yields on 10-year Treasury notes have made them less attractive.
Gundlach, whose firm manages over $53 billion, said on an investor conference call that a "lost decade" in stocks is "extraordinarily unlikely" and that investors should hope that stocks will outperform bonds over the next 10-15 years.
Gundlach added that 10-year Treasuries, which he currently owns in his flagship DoubleLine Total Return Bond Fund , have become somewhat less attractive since yields have hovered around 1.8 percent from 2 percent.
"I certainly like them a lot less," Gundlach said, but added that he is still "comfortable" owning them given the Federal Reserve's purchases of $45 billion in Treasuries per month.
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