Jeffrey Gundlach on CNBC Fast Money Halftime Report 2021-10-22

• market capitalization of sp500 / size of fed's balance sheet  = constant
• 12% cash,  25% stock
• switched to Europen stocks several months ago in the history of doubel line (because dollar will go down and european stocks are really cheap)
• what affect the dollar is the twin deficit (bugdet deficit at a level never seen before; trade deficit is increasing)  these two correlates to a negative dollar trend
•  dollar already topped out
•  He like real assets, commodies and real estate more than gold
•  commodity index has been very strong 75% up vs the bottom in last year
•  cycle of commodity is very long,  (so still cheap in long term basis)
•  has 30-35%  commodities
•  long term bond make sense (because of potential debt deflation), he is 30% long term bonds as a hedge for the risky assets