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.

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