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By Jason Stipp | 12-15-2009 09:29 AM

Gundlach on Rival PIMCO's Record and Position

The former TCW CIO and manager comments on PIMCO's positioning in light of the TCW shakeup.

Jason Stipp: Jeffrey, last question for you, more of a business question for DoubleLine as a firm and the landscape out there. One of the names that hasn't been mentioned a lot in the news reports over the last couple of weeks is PIMCO. Some people may think that PIMCO could come out of this looking like the more stable option for bond fund investors now.

Looking at the competitive landscape from your point of view now starting at the new venture of DoubleLine, do you agree with that? How would you answer that assertion that maybe PIMCO is coming out ahead from this change that's coming in your marketplace?

Jeffrey Gundlach: I don't have anything particular to say about PIMCO. I'm not an insider there. But certainly PIMCO is a good firm. And Bill Gross has done a very good job over the past 10 years and through the credit crisis.

Frankly, I think I'm in a unique position to understand the good job that Bill did because I've done a better job. And not many people have. It's very hard to deliver results like that, and they should be commended for it. Again, I'm in sort of a unique position to know how hard it is, having done that and a little bit more myself.

But regarding PIMCO winning or losing on this, I wish them well. I don't know what'll happen relative to their AUM and the like. I think temporarily they probably have been a parking place for some assets. But frankly $3 billion or $4 billion from TGLMX to PIMCO--even if it all went there, and I doubt that it did--is not really going to move the needle on PIMCO's funds.

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