Jeffrey Gundlach

Jeffrey Gundlach

Chief executive, Doubleline

A superstar bond manager for the past 26 years, Jeffrey Gundlach, 58, looks at the world through a mathematician's eyes, using spatial examples to explain economic and financial concepts. What makes bonds so appealing as a specialty? "They are more purely quantitative, along with interactions with inflation, the economy and some complex cash flows," Mr. Gundlach said.

DoubleLine, the firm he co-founded seven years ago, has more than $100 billion in assets under management today.

In recent years, Mr. Gundlach began to analyze the behavior of the world beyond bonds.

"The same thought processes applied to the 3-D puzzle of the message of the markets," he said. "For example, if you look at interest rates, gold, currency markets, the Fed — there are times when they all fit together. If you think of the world as a cube, there is an essential driving force that explains everything."

He looks for ideas that are broadly held and he tests them, asserting that what matters is having a good sense of how people will react to developments in two years.

An art collector and a huge booster of his hometown of Buffalo, N.Y., Mr. Gundlach recently donated $42.5 million to the city's world-class Albright-Knox Art Gallery, which will soon be renamed the Buffalo Albright-Knox-Gundlach Art Museum.

He also bought a home just down the block from the museum to be closer to the action as it undergoes a major renovation.

"It's the same place my grandmother and mother used to drag me to when I was a kid," he said. "I found buying another painting less fulfilling than helping the museum."

– Deborah Nason


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