Former TCW Fund Manager Gundlach Speaks Out
In his first television interview since being fired by TCW, Jeffery Gundlach spoke with CNBC Monday.
Gundlach was at the top of his game last fall, managing over $70 billion in bond fund assets for his long-time employer, TCW.
He was a nominee to be Morningstar's Fund Manager of the Decade.
Then he was fired.
What followed has been one of the ugliest divorces in the business, as TCW has accused Gundlach of everything from breaking company policy by possessing marijuana and porn in his office, to the more serious charges of stealing proprietary information and lying to clients. TCW wants at least $200 million—and probably all the profits Gundlach is making at his new company, DoubleLine.
Gundlach is countersuing, claiming TCW owes him and his team potentially $1.25 billion in current or future fees from funds he started at the firm.
How good is Gundlach at what he does? The DoubleLine Total Return bond fund which launched in April has done twice as well as TCW's similar fund , and tripled the performance of PIMCO's Total Return fund . It currently has around $800 million in assets.