Look, we’ve been over this before and we’ll go over it as many times at it takes for people to understand it: there is a national (and probably international) conspiracy against DoubleLine boss (and man who took Twitter lessons from Donald Trump) Jeff Gundlach.
Like all good conspiracies, it’s not 100% clear what everyone’s motives are nor is it clear who all of the participants are. We’ve documented this extensively in these pages in the roughly six months since Jeff took to Twitter in an effort to expose this global smear campaign by subjecting it to 140-character doses of “truth.”
You can read the full back story in our Gundlach archive, but suffice to say that so far, he’s identified nearly a dozen of the co-conspirators in the semi-global anti-Jeff plot, and the list of “guilty” parties includes everyone from the Wall Street Journal to a gang of “crass hucksters” who sold him $1 million of fake red wine.
Well over the past couple of days, Jeff has put his roughly 39,000 Twitter followers on notice that he’s identified yet another situation where “someone” is lying to him. And the thing about lying to (and most especially about) Gundlach is that while you might be able to get away with it for a relatively short period of time, the charade will ultimately prove to be an exercise in futility because Jeff’s Twitter handle is @TruthGundlach and by very definition, you cannot lie to someone who has made himself synonymous with “truth.”
Ok, so up until Thursday, Gundlach wasn’t sure “who” was lying, but he did know that either stocks or junk bonds were trying to deceive the market and by extension (because Jeff is a market participant), trying to lie to Gundlach. To wit:
Exactly. “Which is right?” Or, put differently: “who is telling untruths?”
Because someone has to be lying when the historically positive correlation between high-flying tech stocks and the performance of JNK breaks down like it had going into Thursday:
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