Gundlach predicts another Trump election win
Billionaire bond investor Jeffrey Gundlach predicts the president will be re-elected. Yahoo Finance’s Julia La Roche shares the details.
Video Transcript
JULIE HYMAN: And Julia, speaking of politics, you're taking a look at Jeff Gundlach's comments, prediction about the election.
JULIA LA ROCHE: Yeah, so Jeffrey Gundlach, he always does these webcasts. And Julie, people have been asking him, basically on every single one, what's your base case for the election?
Go back to January of 2016 before the Republican primaries concluded, and he said, look, I think Donald Trump is going to win, and he's very comfortable with debt. He also reiterated that May that he would win. And look, he did.
So on the call last night he got this question, and he said that he would, quote, bet against former vice president Joe Biden defeating Donald Trump. He said his base case is that Donald Trump will actually win re-election.
He specifically pointed to the polls. He called the polls very, very squishy. He said that he even came across some data-- I could not find this data. But he said he read something where 2/3 of conservatives, or moderate conservatives, have admitted to lying about their support for President Trump by either directly or by not admitting it.
He did also weigh in on the vice presidential pick, Senator Kamala Harris. He said he didn't think she was a, quote, "good pick." He didn't have too much to really say there.
But again, I think it's interesting, because it's certainly kind of going against the consensus. When you look at the polls, when you look at the models that are coming out-- 538, for example, put out theirs today. It looks like, based on the polls, that Biden is the clear front-runner at this point.
But Jeffrey Gundlach, someone who's known for bold predictions. And people tend to listen.
JULIE HYMAN: Bold predictions. But he didn't just say that Kamala Harris wasn't a good pick. He called her a little too dominant and too [INAUDIBLE].
JULIA LA ROCHE: Yes. And then he didn't have anything further to add to that. I would like to clarify or hear more about, what do you mean by that? But he kind of cut it off after that.
JULIE HYMAN: I think it's pretty clear what he means by that.
RICK NEWMAN: She's not passive enough. Hey guys, I'll just add, I think Gundlach is wrong about this. I just looked up some of his predictions.
He has been wrong. He's not always right. And I think he's wrong about this.
