Investors may want to think twice about putting their money to work in China, contends DoubleLine founder Jeffrey Gundlach.
“China is uninvestible, in my opinion, at this point,” the bond king told Yahoo Finance in an interview at his California estate. “I’ve never invested in China long or short. Why is that? I don’t trust the data. I don’t trust the relationship between the United States and China anymore. I think that investments in China could be confiscated. I think there’s a risk of that.”
Gundlach’s comments came ahead of DoubleLine’s third annual Roundtable Prime investor event on Tuesday.
Some of Gundlach’s concerns on China played out in grand fashion last year.
The ongoing crackdown on the operations of big Chinese internet companies such as Didi by the government has rocked investors in the space. The clamping down on the country’s biggest tech names has now led to a tightening of listing requirements by the Chinese government.
To that end, Didi plans to delist from the New York Stock Exchange later this year not too long after a disastrous IPO (in large part because of Chinese authorities).
