Jeffrey Gundlach said that he thinks Donald Trump will win re-election because the elections do not otherwise reflect true support for the president.
“Will Joe Biden Defeat Donald Trump in November? I don’t think so, ”Gundlach said during a webcast on Tuesday for his company’s close-end funds. “I can bet against that. I think elections are very, very sarcastic because of the highly toxic political environment in which we live.”
On Biden’s choice of Senator Kamala Harris as his running mate, Gundlach said he is “a bit charismatic”.
“I don’t think it’s a good pick,” he said. “She can dominate a bit with her personality.”
Gundlach said a lot could happen between now and Election Day. “I think there’s a lot of time here, there’s going to be a lot of twists and turns,” he said.
Gundlach, who predicted Trump’s victory in 2016, criticized Biden’s electoral opportunities – and that of other Democratic candidates. In January, he said he did not think Biden would win the Democratic nomination, and in March he called him “invincible”.
Other highlights from the presentation:
- Gundlach said he hoped gold would continue to rise despite today’s price drop.
- He said that he would not be surprised to see a return to the market in his March Past.