April 11 Jeffrey Gundlach, chief investment
officer and chief executive of the $56 billion DoubleLine
Capital LP, said on Thursday that his latest investment idea is
a "short" bet against the shares of Chipotle Mexican Grill
"I was going to save this for the upcoming Ira Sohn
(conference) ... but I think a good short is Chipotle," Gundlach
said at DoubleLine's annual luncheon at the Yacht Club in New
York on Thursday. "Gourmet burrito is an oxymoron."
A year ago at the same investor luncheon, Gundlach told an
audience that he was shorting the stock of Apple Inc at
$610 and correctly predicted that the Apple stock price would
fall to $425.
Chipotle shares are down 2.6 percent in the wake of the
Gundlach investment call. Gundlach declined to provide any
further detail on Chipotle shares.
Late last year, hedge-fund manager David Einhorn said his
latest short idea was Chipotle, calling the fast-food chain's
shares overvalued. Einhorn outlined the bearish case for the
company, arguing that Chipotle's business was vulnerable to