DoubleLine's Gundlach warns stocks are 'exhibiting signs of a mania'

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'The stock market, frankly, is exhibiting signs of mania,' warns Jeffrey Gundlach, CEO of DoubleLine, in a CNBC interview Wednesday, after the Federal...

That’s Jeffrey Gundlach, CEO of DoubleLine, in a CNBC interview Wednesday afternoon, following a decision by the Federal Reserve to hold interest rates steady in June, but penciling in more for later this year.

— Jeffrey Gundlach, CEO of DoubleLine That’s Jeffrey Gundlach, CEO of DoubleLine, in a CNBC interview Wednesday afternoon, following a decision by the Federal Reserve to hold interest rates steady in June, but penciling in more for later this year. “Then you’ve got the S&P 500[‘s other 493 stocks], which have gotten a little bit of a tailwind lately, but as of a few weeks ago, were basically unchanged here today,” he said. “The stock market, frankly, is exhibiting signs of a mania, where you have a very concentrated part of the market’s that driving the entire train.”

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