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Jeffrey Gundlach

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BUSINESS
January 12, 2010 | By Tom Petruno
Fired TCW Group investment chief Jeffrey Gundlach struck back at the Los Angeles money management firm Monday after it filed a lawsuit accusing him of stealing proprietary information and being unfit for his former post. Less than two weeks after TCW dismissed him Dec. 4, Gundlach launched rival DoubleLine Capital with about 40 former TCW employees who bolted after he was ousted. In a letter to clients and potential clients, Gundlach denounced TCW's "scorched-earth legal policy."
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BUSINESS
November 7, 2012 | By Andrea Chang
Jeffrey Gundlach, one of the world's top bond gurus, has taken a big swipe at Apple. The bond fund manager is predicting that Apple's stock, down more than 20% since Sept. 19, could fall as low as $425 a share. Shares declined $22.20, or 3.8%, to $558 on Wednesday. Just a couple of months ago, analysts were predicting Apple's stock could hit $800, possibly even $1,000, a share. Gundlach, now chief executive of DoubleLine Capital, said in an interview with CNBC that he didn't understand everyone's "obsession" with Apple stock, which he began shorting in April.
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BUSINESS
August 12, 2011 | By Tom Petruno, Los Angeles Times
Star Los Angeles bond fund manager Jeffrey Gundlach found his character on trial as he took the stand for the first time in his high-stakes court battle with his former employer, money management giant TCW Group Inc. TCW's lead attorney, John Quinn, sought to convince the jury Thursday that Gundlach was disloyal to TCW and to his own longtime fund co-manager and that Gundlach's conduct left the firm little choice but to oust him in December 2009....
ENTERTAINMENT
September 27, 2012 | By Joe Bel Bruno and Mike Boehm
Jeffrey Gundlach said Thursday that an estimated $10 million in 20th century art that was burglarized from his Santa Monica home has now been safely returned, and that police told him they have arrested two suspects. The wealthy bond trader, who's considered one of the world's most prominent investment fund managers, had posted a $1.7-million reward for the return of works by Piet Mondrian, Jasper Johns, Richard Diebenkorn, Joseph Cornell and others. He had discovered Sept. 14 that they were missing, after returning from a short business trip.
BUSINESS
September 20, 2012 | By Andrew Blankstein and Joe Bel Bruno, Los Angeles Times
Star bond fund manager Jeffrey Gundlach is used to winning, but he just suffered a $10-million hit in the most unexpected way. Returning to his posh Santa Monica home after a business trip to New York this week, he found a blank space on the wall where a cherished landscape by William Wendt once hung. He then noticed more blank spaces where he had part of his multimillion-dollar art collection. The crooks even drove away in his red Porsche Carrera - and shut the garage door on the way out. Gundlach, heralded on Wall Street for his bond investing prowess, is the founder of DoubleLine Capital in Los Angeles.
BUSINESS
September 14, 2011 | By Tom Petruno, Los Angeles Times
After a six-week court case of often head-spinning complexity, the bitter legal battle between star L.A. bond fund manager Jeffrey Gundlach and his former employer, TCW Group Inc., is in the hands of the jury. Their mission: Try to decide which of two very well-heeled combatants deserves potentially hundreds of millions of dollars in damages from the other after TCW ousted Gundlach nearly two years ago. Mindful that the jurors most likely can't personally relate to the huge sums of money involved, TCW attorneys tried to reduce the case to issues of simple right and wrong in their closing arguments Tuesday.
ENTERTAINMENT
September 27, 2012 | By Joe Bel Bruno and Mike Boehm
Jeffrey Gundlach said Thursday that an estimated $10 million in 20th century art that was burglarized from his Santa Monica home has now been safely returned, and that police told him they have arrested two suspects. The wealthy bond trader, who's considered one of the world's most prominent investment fund managers, had posted a $1.7-million reward for the return of works by Piet Mondrian, Jasper Johns, Richard Diebenkorn, Joseph Cornell and others. He had discovered Sept. 14 that they were missing, after returning from a short business trip.
BUSINESS
November 7, 2012 | By Andrea Chang
Jeffrey Gundlach, one of the world's top bond gurus, has taken a big swipe at Apple. The bond fund manager is predicting that Apple's stock, down more than 20% since Sept. 19, could fall as low as $425 a share. Shares declined $22.20, or 3.8%, to $558 on Wednesday. Just a couple of months ago, analysts were predicting Apple's stock could hit $800, possibly even $1,000, a share. Gundlach, now chief executive of DoubleLine Capital, said in an interview with CNBC that he didn't understand everyone's "obsession" with Apple stock, which he began shorting in April.
BUSINESS
December 15, 2009 | By Tom Petruno
Ousted by Los Angles financial giant TCW Group, star bond fund manager Jeffrey Gundlach on Monday turned to a firm whose executives had their own bitter breakup with TCW nearly 15 years ago. Gundlach said that he was launching an investment firm called DoubleLine with help from Oaktree Capital Management, a major global investor in bonds and private equity. L.A.-based Oaktree was formed by Howard Marks, Bruce Karsh and a handful of other TCW money managers in 1995, in a move that TCW founder Robert Day at the time branded as "disloyal at the very least."
BUSINESS
February 19, 2010 | By Tom Petruno
In the all-out war between L.A. money manager TCW Group Inc. and its former chief investment officer, Jeffrey Gundlach, one battle will be decided Friday. That's when more than 200 big investors in two TCW bond funds will choose between keeping their money with the firm or exiting. TCW naturally wants to hold on to the $3 billion in the funds. Gundlach, meanwhile, has made a full-court press to persuade the investors, including a number of large pension funds, to dump TCW and bring their money to his new firm, DoubleLine Capital.
BUSINESS
September 25, 2012 | By Pat Benson
Bond king Jeffrey Gundlach has offered a $1.7-million reward for the safe return of artworks stolen recently from his Santa Monica home. The stolen pieces, worth an estimated $10 million, included some of the biggest names in contemporary art: Piet Mondrian, Jasper Johns and Richard Diebenkorn. What happens to art after it's stolen? Join us for a live video chat today at 4:30 p.m. with retired FBI agent Robert K. Wittman, who wrote the book "Priceless: How I Went Undercover to Rescue the World's Stolen Treasures.
BUSINESS
September 25, 2012 | By Pat Benson
Who would steal art, and who would buy it? We asked stolen art expert Robert K. Wittman that question after thieves stole artworks owned by bond king Jeffrey Gundlach.  Gundlach has offered a $1.7-million reward for the safe return of the stolen pieces, worth an estimated $10 million. Works by Piet Mondrian, Jasper Johns and Richard Diebenkorn were taken. Wittman, a former FBI agent, wrote the book "Priceless: How I Went Undercover to Rescue the World's Stolen Treasures.
BUSINESS
September 24, 2012 | By Joe Bel Bruno
Star bond trader Jeffrey Gundlach will announce a new, potentially momentous reward for the safe recovery of a trove of art stolen earlier this month from his Santa Monica residence, a person familiar with the matter said. The founder of DoubleLine Capital is currently offering $200,000 for the return of art that includes works by Mondrian, Joseph Cornell, Jasper Johns and Richard Diebenkorn. The new reward, which will be announced at a 1 p.m. news conference on Monday, is expected to be among the highest paid for stolen art, the person said.
BUSINESS
September 24, 2012 | By Stuart Pfeifer, Mike Boehm and Walter Hamilton, Los Angeles Times
Even by Hollywood standards, the audacious art heist from the home of a wealthy L.A. money man is an intriguing whodunit. Jeffrey Gundlach, one of the world's top bond gurus, has offered a $1.7-million bounty for the safe return of a cherished collection stolen from his Santa Monica home last week. The $10-million haul included some of the biggest names in contemporary art: Piet Mondrian, Jasper Johns and Richard Diebenkorn. On Monday, Gundlach took the unusual step of holding a news conference in downtown Los Angeles to announce one of the highest rewards on record for the return of stolen art. He set aside $1 million of the reward money for a Mondrian piece, which one art-theft expert said was the most ever offered for a single painting.
BUSINESS
September 20, 2012 | By Andrew Blankstein and Joe Bel Bruno, Los Angeles Times
Star bond fund manager Jeffrey Gundlach is used to winning, but he just suffered a $10-million hit in the most unexpected way. Returning to his posh Santa Monica home after a business trip to New York this week, he found a blank space on the wall where a cherished landscape by William Wendt once hung. He then noticed more blank spaces where he had part of his multimillion-dollar art collection. The crooks even drove away in his red Porsche Carrera - and shut the garage door on the way out. Gundlach, heralded on Wall Street for his bond investing prowess, is the founder of DoubleLine Capital in Los Angeles.
BUSINESS
August 10, 2012 | By E. Scott Reckard, Los Angeles Times
After three years clouded by key staff defections and ownership uncertainties, Los Angeles asset manager TCW Group Inc. will move ahead with a high-profile new partner - private equity firm Carlyle Group. French banking giant Societe Generale agreed Thursday to sell its majority stake in TCW to two Carlyle funds and to TCW's managers. Terms of the deal were not disclosed, but the companies said the transaction would boost the ownership of TCW employees from 17% to 40%. TCW, founded in 1971 by Robert Day as Trust Co. of the West, manages investments for some of the nation's largest pension funds, universities and other big investors.
BUSINESS
August 17, 2011 | By Tom Petruno, Los Angeles Times
TCW Group Inc. and its French parent company broke key promises made to TCW's top money managers, fueling a rebellion at the L.A. asset management firm, a jury was told. Jeffrey Gundlach, TCW's star bond fund manager until the firm fired him in 2009, testified in court Tuesday that the company had pledged that employees would always own 30% of the stock in the business. But French banking titan Societe Generale, which bought control of TCW in 2001, never followed through on that promise, Gundlach said.
BUSINESS
August 16, 2011 | By Tom Petruno, Los Angeles Times
On trial for allegedly stealing trade secrets from his former employer, star bond fund manager Jeffrey Gundlach told a jury that he had no need to use TCW Group Inc.'s data because there was nothing special about it. Under questioning by his own attorneys for the first time in the grueling court battle, Gundlach said Monday that the TCW system for evaluating complex bonds used "the same data everyone else looked at. " The value that TCW...
BUSINESS
April 12, 2012 | By Walter Hamilton, Los Angeles Times
Wall Street investment firms have not had the most successful initial public offerings in recent years — and Oaktree Capital Group may be no exception. Despite being highly regarded, the Los Angeles distressed-debt manager raised less in its IPO on Wednesday than planned. The company announced that it raised $380 million by selling 8.8 million shares at $43 each. That's at the lower end of its proposed range of $43 to $46 a share, according to an earlier filing with the Securities and Exchange Commission.
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