Robert Day

Jeff Gundlach Starts Own Firm With Oaktree Money, TCW Most Likely Furious

The big guns in LA are out swinging, with news emerging that Jeff Gundlach will get funding and a minority investment from of bond giant and other major TCW defector, Oaktree. Howard Marks' firm is now set to eat TCW's municipal lunch. And all the disciples of Robert Day had to do was promote the guy. Also, futures in the "Battle of the Attanasios"(Paul and Mark) just surged majorly in favor of the House creator.

Frontrunning: August 7

  • Nonfarm payrolls down 247,000, right on top of Goldman's whisper estimate, unemployment rate now 9.4%, bonds yields explode (BLS, AP)
  • Insider trading probe at SocGen cost former IB chief his job, TCW co-founder Robert Day also under investigation (Bloomberg)
  • Australian workers cut work hours instead of firing (Bloomberg, h/t Aditiya)
  • Jonathan Weil: Blowing up your company gets raised to art form (Bloomberg)
  • It's not all golden at Goldman (Reuters)
  • Goldman Sachs is (not) ripping you off (Ritholtz)