Legendary investor Jeffrey Gundlach says 'garbage lending' means the next crisis will be in private markets
Business
Jeffrey Gundlach thinks the next financial crisis is lurking in the booming world of private markets. The CEO of $91 billion bond firm DoubleLine recently shared his take on an episode of Oddlots podcast. The $1.7 trillion private credit industry has been in focus lately amid high-profile blowups among big corporate borrowers, including First Brands and Tricolor Holdings, and as regional banks have come under scrutiny for problems with bad loans. And Gundlach thinks things are likely to worsen
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