Salient to Investors:
Jeffrey Gundlach at DoubleLine Capital said:
- Equities won’t repeat the poor performance of 2000 to 2010, when the S&P 500 fell 14 percent.
- Equities are superior to fixed-income as an inflation hedge. Stocks’ unpopularity is positive.
- The S&P 500 isn’t cheap – the Chinese stock market is better value.
Mutual-fund investors withdrew $313 billion from U.S. stock funds and added $889 billion to fixed-income funds since the March 9, 2009 bottom.