Overview

• Billionaire investor Jeffrey Gundlach warns of an impending recession, citing overvalued stocks, an inverted yield curve, and negative leading economic indicators.
• Gundlach questions the accuracy of national unemployment data as a majority of U.S. states report rising unemployment.
• He recommends holding cash over investing in the current market, suggesting that better opportunities may arise post-recession.
• Gundlach urges the Federal Reserve to cut interest rates after they were raised from virtually zero to over 5%.
• He also expresses concern over the surge in tech stocks, specifically Nvidia Corp., which has reached a market capitalization of $1.5 trillion.