Renowned investor and CEO of DoubleLine Capital, Jeffrey Gundlach, believes that commodities offer a more promising investment opportunity compared to other sectors.
During a recent interview with CNBC, Gundlach expressed his lack of enthusiasm towards equities based on the Chicago Board Options Exchange’s Volatility Index (VIX), which measures stock market volatility.
Gundlach suggested that stocks would need to experience a more significant correction before becoming attractive for investment.
“I don’t believe they are undervalued enough. I am waiting for the VIX to rise further to witness a true market downturn.”
Gundlach characterized the current market as being in a “revaluation phase” and highlighted commodities, particularly gold, as offering the most favorable long-term investment prospects.
“I strongly believe that commodities are the way to go in the long run, including holding a position in gold… Last year, I mentioned gold surpassing $4,000, which seemed ambitious at the time. However, it nearly reached $5,500.
At present, we are back around the level I originally predicted as the peak for gold this year. This presents a great opportunity to add to gold holdings and expand into other commodities.”
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