Billionaire investment manager Jeffrey Gundlar says he doesn’t like the “golden era” of the U.S. stock market.
Gundlach, who also co-founded the investment firm Global Advisors, said on CNBC’s Squawk Box on Monday that the market is not sustainable, and that he wants to see the world go back to the days when there was an underlying “magic” that allowed the market to operate at a very high level of performance.
“The market is overvalued, so it’s not sustainable for me to be bullish on the stock exchange,” Gundlache said.
“The stock market is so overvalued and the economy is so underdeveloped, it’s very difficult to invest in the stock markets.
The stock markets are not sustainable.”
Gundlar’s comments come after the Dow Jones Industrial Average hit a record high Monday.
In a statement Monday, Gundlache called for “an orderly and orderly return to a golden age” of stocks and a return to “the era of high returns and market returns.”
Growth in the U-20 World Cup will likely slow in the future, Gundlar added.
Meanwhile, the International Monetary Fund has warned that the U.-20 World Championships in the United States and Brazil are in a “critical phase” because of rising global tensions and political unrest.
A U.N. panel on Monday also urged the world’s leaders to use all instruments at their disposal to prevent another economic crisis.
As for the Uptown neighborhood in New York City, the Wall Street Journal reports that the number of homicides there hit a six-year high in March.