Jeffrey Gundlach is a big believer in commodities as an investment.
The bond investor was asked for his best trade in the market today.
"I still like commodities," he said Friday on CNBC's "Halftime Report." "I think [in the] late cycle commodities always rally."
Gundlach noted the current economic expansion is one of the longest in history. He cited how in previous cycles commodity prices surged higher by 100 percent, 200 percent and even 400 percent during this stage.
"Most investors are underweighted or completely not invested in commodities because they've been so quiet, so sleepy," he said. "Commodities is my choice investment for investors to get diversified at low prices now."
The bond investor in December also recommended commodities for 2018.
Gundlach is founder and CEO of DoubleLine. He is known for his investment acumen in the fixed income markets. Barron's dubbed Gundlach the "The New Bond King" in 2011. DoubleLine has assets under management of more than $118 billion, according to its website.