DoubleLine bond manager Jeffrey Gundlach tells Switzerland’s Finance and Economy publication that it’s time to prepare for a downturn. This podcast (4:51) credits Gundlach with some astute observations, but notes that he’s issued plenty of doomsday warnings throughout years of the market’s relentless ascent. The moral of the story is thus that we should always be prepared for a downturn – and positioned for an upturn – and not wait for portfolio-manager pronouncements. Learn more about your ad choices. Visit megaphone.fm/adchoices