Here’s a great interview with Jeffrey Gundlach in which he discusses why a retest of the market low is ‘very plausible’. Here’s an excerpt from the interview:
Question: You think… is that now off the table? Is it off the table now, retesting the low because of the Fed?
Gundlach: No, it’s not at all. In fact I think we take out the low. I think a retest of the low was very plausible. A lot of us have been around a lot of years, almost fell victim to our historical experience and expecting that relatively assumed retest of the Dow Jones below 19,000 Industrial Average. But I just don’t think that’s going to happen.
I think that people don’t understand the magnitude of social, I’m not going to say unrest but, social you know unease at least that’s going to happen when you have what’s now 26 million plus people have lost their job. That’s… we’ve lost every single job that we created since the bottom in 2009.
You can watch the entire interview here:
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