MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
an InvestmentWires' Publication
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MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
|
Friday, September 21, 2012 CNBC and Gundlach Rage Against M*'s "Garbage In, Garbage Out" CNBC is siding with Jeff Gundlach against Morningstar's new analyst ratings system. There's no love lost between Chicago-based Morningstar and Los Angeles-based DoubleLine Capital [profile]. The top-selling and outperforming DoubleLine Total Return Fund is still too young to have a quantitative Morningstar star rating, and under the new analyst rating system the Chicago-based mutual fund ratings shop gave the hit fund a "neutral" rating. Yesterday, CNBC's capital markets editor, Gary Kaminsky, mocked this neutral, calling the new qualitative system "garbage in, garbage out." Gundlach himself weighed in, accusing Morningstar of not having a clue about what DoubleLine Total Return. "I don't think the ratings analysts ever understood what we did," Gundlach told CNBC. "I've got news for people. The people that do these ratings qualitatively have never managed any money." Morningstar submitted a statement to CBNC explaining DoubleLine Total Return's neutral. Watch the clip for the whole discussion. Printed from: MFWire.com/story.asp?s=41338 Copyright 2012, InvestmentWires, Inc. All Rights Reserved |