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Gundlach said, "I think the year 2013 may be building a credit risk bubble as we move forward because what's happening is that investors are starved for yield now that yields are lower on competing assets versus Treasuries. Thanks to yield compression, due to yield starvation, the next move I believe that will start happening in the financial industry is funds will start leveraging credit risk to a greeter extent which will build up an overexposure potentially should the market ultimately turn against bonds later on."
Gundlach is still bearish on Apple (AAPL). He said, "I deeply believe though that Apple is headed to $425 a share, not because I'm a bond guy or stock guy, because I'm a market guy. I've been around for a long time and I know that when something goes vertical like Apple did from $425, once the bubble pops, it goes back down to the point at which it lifted off. That's about $425."
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