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Gundlach Covers U.S. Short Positions, Gets ‘Panic’ Art Offers

Nathan Crooks

(Bloomberg) -- Billionaire money manager Jeffrey Gundlach covered his last U.S. short position, saying the “palpable” panic in the markets had even pushed down art prices.

“Today I received panic offers of blue chip (though not at all trophy) art at slashed prices,” he tweeted, saying this was further evidence of a liquidity squeeze.

The DoubleLine Capital chief executive officer also said that he wasn’t short any U.S. stocks for the first time in years, having covered his last three shorts today as the profits were “just too great to not harvest.”

He also offered a stark warning as politicians debate how best to help companies struggling amid fallout from the coronavirus pandemic, stating that some bailouts may not sit well with the American people.

Read More: Kudlow Says Government May Take Equity Stakes for Company Aid

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