Wall Street's heavy hitters think this is the next big short

Jeff Gundlach thinks junk bonds could be the next big blowup. Carl Icahn agrees. Others are pointing to the burst in non-traditional bond fund inflows and the proliferation of exchange traded products that traffic in some of the less liquid and more esoteric fixed income asset classes – like bank loans and such.

I agree.

Advisors have been stuffing their clients to the gills with instruments that a) they don’t understand and b) have never seen a down-cycle. Surprises will be legion,...

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