Gundlach Predicts Trump Victory; David Rosenberg Not So Sure

Jeffrey Gundlach, who famously predicted Trump’s victory in 2016, says the president will secure another term. David Rosenberg acknowledged that possibility, but is not so sure of the outcome. Both offered their predictions for the post-election economy and markets.

Gundlach is the founder and chief investment officer of Los Angeles-based DoubleLine Capital, a leading provider of fixed-income mutual funds and ETFs. Rosenberg is the principal of Toronto-based Rosenberg Research & Associates, which he founded after working for a decade as chief economist and strategist at Gluskin Sheff & Associates. The two spoke earlier today via a webinar hosted by Rosenberg Research.

Neither Gundlach nor Rosenberg endorsed either candidate, and Gundlach did not say who he would vote for.

In 2016, Gundlach was one of few to predict Trump’s victory. He made that prediction before the primaries, when the odds for Trump rising to the presidency were extremely small. He also predicted the urban unrest that would ensue under Trump’s term.

Gundlach has far less conviction in his prediction than he did in 2016. The loser will contest the result, he said, and Americans will be unhappy, which could lead to rioting and looting, particularly if Trump wins. Republicans won’t riot, he said.

Even if Biden wins, Democrats won’t win the Senate. Gundlach said a Biden victory will be out of protest from those who believe Trump is a “monster.” Kamala Harris is more candid than Biden, but couldn’t get more than 2% of the primary votes, so her policies are not too popular, he said.