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Need to Know: As Washington plays rope-a-dope with Trump, big fund manager calls cash king

Cash is king. Go and get it.

That’s just one piece of advice from DoubleLine founder Jeff Gundlach, who dished it out in his latest webcast presentation, as we roll into Fed decision day. Some of it will sound familiar, such as his prediction for a summer stock swoon, after he warned about that last month.

“If you’re a trader or a speculator I think you should be raising cash today, literally today. If you’re an investor, you can easily sit through a seasonally weak period,” Gundlach said on a call discussing DoubleLine’s Total Return Bond Fund.

With that, Gundlach meets our criteria for our call of the day, but there was some other notable stuff said.

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