President Donald Trump deserves “very little” credit for the record high prices in U.S. stocks, DoubleLine Capital Chief Executive Officer Jeffrey Gundlach, who voted for Trump, said on CNBC on Tuesday.
“The current president is getting virtually nothing done. He’s very noisy about it. The nothing getting done is the consistent theme,”.
“The market’s been going up with nothing getting done. So I don’t think the president’s performance has much to do with where the stock market valuation is today.”
Gundlach was one of the few investors on Wall Street to accurately predict Trump’s election victory in 2016.
DoubleLine has assets under management of more than $100 billion, according to its website.