Jeffrey Gundlach, chief executive officer of DoubleLine Capital, said on Friday he thinks Britain will "Bremain" in the European Union and if investors agree they should buy beaten-down European equities.
"I’ve never believed in an exit, or 'Brexit,'" said Gundlach, known on Wall Street as the "Bond King" who manages $100 billion (£69.66 billion) at Los Angeles-based DoubleLine Capital. Britain will hold a referendum on June 23 on whether the country will leave the European Union, a process often referred to as Brexit.
Gundlach, who manages the $60.3 billion DoubleLine Total Return Bond Fund, reiterated that polls reflect people's complaints and frustrations rather than the actions they will actually take. "When it comes up for a vote, I think it will fail," he said.
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"I’ve never believed in an exit, or 'Brexit,'" said Gundlach, known on Wall Street as the "Bond King" who manages $100 billion (£69.66 billion) at Los Angeles-based DoubleLine Capital. Britain will hold a referendum on June 23 on whether the country will leave the European Union, a process often referred to as Brexit.
Gundlach, who manages the $60.3 billion DoubleLine Total Return Bond Fund, reiterated that polls reflect people's complaints and frustrations rather than the actions they will actually take. "When it comes up for a vote, I think it will fail," he said.
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