Legendary fixed income investor Jeff Gundlach shared his views on the market and the election in an exclusive interview with CNBC's Scott Wapner on Friday.
On what to buy on Donald Trump's win: "I do think industrials, materials and financials are the sectors. ... Financials I like for the obvious reasons, a real simple thesis, I heard it on CNBC over and over again. I agree with it. The yield curve has been steepening, it's positive for financials. Of course the Trump win, around the edges, means less pressure on regulation of banks."
On what to avoid on Trump's election: "One thing about Trump's win, there's something about it [where] people just want something real. They want to see things being made. They want to see policies being changed ... which means the financial engineering stocks and the momentum stocks, the FANGs, I would stay away from them in a big way."
Later he added, "I think the FANGs [stocks] are a bubble frankly."
Gundlach is founder and CEO of DoubleLine Capital. Previously, he worked as a bond fund manager for TCW.
FANG is an acronym created by CNBC's Jim Cramer for a basket of high-growth technology stocks — Facebook, Amazon, Netflix and Alphabet (formerly known as Google).
He also discusses:
- The Federal Reserve rate hike cycle.
- The key technical levels for the .
- What's next for Treasury yields.
- Gold.
- Housing prices.
To watch the broadcast interview in its entirety, you must be a CNBC PRO subscriber.
