Jeff Gundlach: Eschew Gold, Buy Gemstones

In one of the more entertaining presentations yesterday at Ira Sohn, Jeff Gundlach of DoubleLine said that gemstones are a better way to store value, as opposed to gold or silver, because of their transportability. Gundlach says that gemstones have been used in the past to trade for things, and gold has no carry. He also said that he thinks Bank of America

is going lower, because it is basically Countrywide, and it has tracked the ABX index for some time, and that looks to be headed lower as well.