In short: His entire equity sleeve — cut from 40% to 30% of the model portfolio, "30% in one thing": an equal-weighted Fortune 500 (revenue-ranked, ~440 names) index, so "you don't have 40% of your portfolio in AI. You have almost nothing."
Most stock index funds give the biggest companies the biggest weight, so a few AI giants make up a huge share. This fund instead holds the roughly 440 public companies on the Fortune 500 list (ranked by sales, not by stock-market value) in equal amounts, so each AI giant is only a sliver. Gundlach has put his whole stock allocation — 30% of his model portfolio, down from 40% — in it precisely because it keeps you "as far away from [AI] as you can" while still owning US businesses. It is a DoubleLine product.
9:41And so I break the recommendations into four pieces. The first one is equities. And I was at 40% equities for the first two times I did this. And now I'm at 30. And I was in exposures that were more, I would say, typical. But what I'm recommending now is 30% in one thing, an equal weighted index.
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