Contact us
CALL US NOW 1-888-GOLD-160
(1-888-465-3160)

Did the Mainstream Just Wake Up? Jeffery Gundlach Sparks Talk of a Bear Market

  by    0   1

The mainstream has finally uttered the B-word.

I mean bear. As in bear market.

DoubleLine Capital founder Jeffrey Gundlach sparked mainstream talk of bears on Monday when he asserted that we have indeed entered a bear market during an interview on CNBC. 

I’m pretty sure this a bear market. I mean, people like this definition of 20% down is a bear market, but that’s obviously very arbitrary. I’ve been around for over 35 years in this business, and I’ve seen a number of bear markets. And it’s more about kind of how you lead into it, how it develops and how the sentiment changes. And I think we’ve pretty much had all the variables that characterize a bear market.”

Gundlach’s comments quickly rippled through the various financial news networks. Reuters made it a headline. Oliver Pursche, chief market strategist at Bruderman Asset Management in New York, called markets emotionally drained an subject to selloffs.

It’s really about sentiment, and the Gundlach statement didn’t help the market.”

There is some actual evidence to back up Gundlach’s assertion. While the S&P500 as a whole is technically still in correction territory, more than half of the individual stocks on the index are officially in a bear market.

Peter Schiff has been calling this a bear market since last spring.

To me, if it looks like a duck and walks like a duck and quacks like a duck – it’s a duck. And this market is looking like, walking like and quacking like a bear market.”

Meanwhile, on Monday, stocks did exactly what they do in a bear market. They plunged. The Dow Jones fell 507.53 points. That dropped the Dow 10% below its record high. The S&P500 hit a 14-month low. The latest slide also erased the NASDAQ’s slim gain for the year. US stock markets are experiencing their worst December in over 80 years, according to a Reuters report.

Healthcare stocks led the way down with concern over a federal judge declaring Obamacare unconstitutional. But as Peter has said about tariffs, any excuse will do to send stocks lower during a bear market.

Gundlach said we’ve watched one sector after another give it up over the last year.

The global stock market peaked January 26th and so did the New York Stock Exchange composite on January 26th. But the Dow Jones Industrials, the NASDAQ, the S&P 500, all these things, one by one, started to roll over.”

Perhaps the mainstream is starting to get it. That remains to be seen. But as Peter has been saying, this isn’t just about the stock market. There are fundamental problems in the economy that are behind the market selloff.

The economy is fundamentally weak. It’s been propped up by artificially low interest rates. Interest rates are still artificially low. But they’re not low enough and the whole thing is imploding.”

Get Peter Schiff’s most important Gold headlines once per week – click here – for a free subscription to his exclusive weekly email updates.
Interested in learning how to buy gold and buy silver?
Call 1-888-GOLD-160 and speak with a Precious Metals Specialist today!


Related Posts

Peter Schiff: Gold is the Canary in the Economic Coal Mine

This weekend, Todd Sachs interviewed Peter on the state of the economy. They discuss the parallels between now and the 2007-2008 housing crisis, the role of economic sentiment in voters’ opinions, and why foreign central banks are losing faith in the dollar.

READ MORE →

Gold Hits New All-Time Record High

Gold hit a new all-time nominal high, surpassing the previous record set in December of the previous year. The precious metal’s price reached approximately $2,140, indicating a robust and continuing interest in gold as a safe-haven asset, despite a rather peculiar lack of fanfare from the media and retail investors. This latest peak in gold […]

READ MORE →

New Peter Schiff Video: Inflation Rises, Bitcoin ETFs, and the Final Gold Shakeout

Peter released a brief video addressing the looming resurgence of inflation. Ironically, on the back of disappointing inflation numbers, gold witnessed a dip below $2000 on Tuesday due to higher-than-expected CPI data.

READ MORE →

Peter Schiff: A Buying Opportunity as Gold Pulls Back from Record High (Video)

Gold surged to a new record high of $2135 early Sunday morning before pulling back sharply Monday. In this video, Peter Schiff explains why this is a buying opportunity. After setting the record, gold quickly sold off and consolidated, dropping over $100 back to around $2,020. Some people see the quick selloff as a bearish […]

READ MORE →

Marc Faber: Inflation Is Here to Stay

During a recent interview at the 2023 Precious Metals Summit Zurich event, Doom, Boom & Gloom Report publisher Marc Faber says now is the time to buy gold, silver and platinum because inflation is here to stay.

READ MORE →

Comments are closed.

Call Now