"If you look at the bond funds, like the TLT and the BLV, those are 15 percent below their May highs," he said. "In other words, if we are truly back to QE-infinity, which many people are talking now, I'm hearing May. I'm hearing July. I'm hearing late next year for QE—that means the bonds, the long end of the bond curve is very, very cheap.
"You could have them retrace 50 percent back to the old highs, which would be a 6 to 7 percent return."
(Read more: Tesla's stock valuation a speed bump: Analyst)