Investor Jeff Gundalch, billionaire and “King Of The Bonds”, shows interest in new energy-based stocks and shares.
After various talks and showing interest in energy-related commodities at the beginning of this year, he’s made it clear that it may be the markets best trade just yet. Speaking at the 2018 Sohn Conference, a conference where many investors, managers and CEO’s reveal and discuss new ideas for investment, Gundalch spoke about how he bought his shares of the SPDR S&P Oil & Gas Exploration & Production ETF, thinking that energy-related stocks were not at their highest potential. Gundlach is also founder and CEO of DoubleLine Capital.
Speaking to CNBC at the conference, Jeff Gundalch said: “It’s lagged in a way that’s kind of bizarre this year. It’s not a very great performing sector, and yet oil has gone up towards $70 a barrel.”
Further explaining to CNBC, he said: Gundlach continued: “If you look historically at the energy sector versus the S&P 500, not surprisingly it’s correlated with movements in oil. That hasn’t happened this time, and I think there’s a catch-up there. The charts look good on XOP, the exploration and production part of the sector.”
Gundalch has shared his own views on Facebook, reports CNBC. Explaining how the social media giant, was losing more due to recent controversy and how the public views it all.
Further on explaining how at one point, Facebook was the tip of the spear in international communication, technology, and social media, the recent exposure of how private information was “mined” and sold, traded or exposed by other companies has caused public outrage and unwanted exposure.
He also spoke about how CEO and founder of Facebook, Mark Zuckerberg, and his apology in front of Congress came off as insincere.