DoubleLine Capital chief Jeffrey Gundlach told CNBC the first presidential debate, set for Monday, could be make or break Donald Trump.
"It seems clear that Mr. Trump has momentum," Gundlach told "Fast Money" on Wednesday evening. "You know that I've been saying all year Trump was going to be our next president."
"[Trump] certainly has a monumental opportunity on Monday to really gain further momentum," the bond guru said. "I would also acknowledge he has the opportunity to blow himself up on Monday."
"If he does a good performance, I think he's going to pull ahead in the polls … in a definitive way," said Gundlach, whose firm has more than $100 billion in assets under management.
However, Gundlach also said he's looking for "downside volatility to develop" on Trump gains, because of the view that if the billionaire real estate mogul wins the election "the world is going to come to an end."