DoubleLine Capital CEO Jeff Gundlach told Bloomberg Television today that "investors should be holding cash" in this environment.
Gundlach said that risk assets have "diminishing returns" on each round of QE and "it's almost like a half-life of a radioactive particle." Investors shouldn't turn to risky assets as a "Pavlovian response." Gundlach also said that, "I don't see a lot of value in the U.S. stock market and I think you have to play it safe in the U.S. bond market."
