Jeffrey Gundlach Warns of ‘Garbage Lending’ as Private Credit Booms

In markets awash in “garbage lending” and unhealthy valuations, Jeffrey Gundlach is keeping his strategy simple: load up on cash and stay away from private credit.

One of Wall Street’s bond kings is spotting overpriced assets almost everywhere he looks. In an episode of the Odd Lots podcast recorded to mark the show’s 10-year anniversary, Gundlach called out nosebleed valuations in the equity market and warned investors against “incredibly speculative” bets.