Gundlach Foresees Market Decline, Advises Raising Cash Reserves While Remaining Wary of Risky Assets
• Gundlach said investors are "grabbing at assets on a limited basis" showing "grabby" behavior lately • He expects the S&P 500 could drop all the way to 3,200 in the next recession which he predicts by mid-year • Gundlach recommends at least 20-25% cash holdings right now due to poor risk-reward in credit markets and recovering assets • He likes gold as an investment now but has "no interest in bitcoin" • Gundlach doubts Biden's ability to debate and stamina, predicts Trump returns to White House