This was an interesting webcast. Gundlach had a number of points that will make one think about one’s current market position. There is a risk of a recession (#44-45). Gold going to $1400. He admits to a blown 2015 call, but 2016 is the year. Oil at bottom but do not expect a huge bounce. But, dollar weakness can help price. Fed. raised rate in face of low inflation (also EU ‘deflation’) … Trouble on the profit margin front … India EM is one to look at once at bottom (~40% down from here).