“We don’t want to get suckered in.”If investors don’t opt to buy on the dip or run for the door, they could instead choose to stand still. If we don’t cooperate at all, we’re all out there in the woods with a spear chasing a squirrel.”The landmark “Brexit” vote, he said, is evidence we’re living in an increasingly uncooperative world. That’s why he said he’s betting on gold, short-term bonds and other assets seen as safe havens, rather than on stocks. Other investment managers, while acknowledging that the Brexit could hurt the global economy and affect markets in the short term, don’t see it as a reason to head for the exits, at least when it comes to the U.S. stock market. “Bull markets are about cooperation,” Gundlach, chief executive of downtown L.A. money manager DoubleLine, told CNBC during an interview Friday.

Source: Los Angeles Times June 24, 2016 23:12 UTC