Jeffrey Gundlach said he thinks Donald Trump will win reelection because polls showing otherwise don’t reflect the true support for the president.
“Will Joe Biden beat Donald Trump in November? I don’t think so,” Gundlach, chief investment officer for DoubleLine Capital, said during a webcast Tuesday for his company’s closed-end funds. “I’d bet against that. I think the polls are very, very squishy because of the highly toxic political environment in which we live.”
On Biden’s choice of Sen. Kamala Harris as his running mate, Gundlach said she is “a little too charismatic.”
“I don’t think it’s a good pick,” he said. “She might be a little bit dominant with her personality.”
Gundlach said that much can happen between now and Election Day. “I think there’s a lot of time here, there’s going to be a lot of twists and turns.”
Gundlach, who predicted Trump’s win in 2016, has criticized Biden’s electoral chances — and those of other Democratic candidates. In January, he said he didn’t think Biden would win the Democratic nomination and in March he called him “unelectable.”
Other highlights from the presentation:
- Gundlach said he expects gold to keep trading higher despite Tuesday’s setback in prices.
- He said he wouldn’t be surprised to see the market return to its March lows.
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