'Bond King' hints at big money if stocks fail to stay near current highs

New York

JEFFREY Gundlach, chief executive officer of DoubleLine Capital, said on Tuesday there is "big money" to be made on the "short side" if equities fail to stay near current highs.

Mr Gundlach, who oversees more than US$100 billion at Los Angeles-based DoubleLine Capital, said on a webcast that he has been selectively betting against shares in the Standard & Poor's 500 index and continues to favour emerging-market bonds over high-yield "junk" debt.