(Adds quotes from Gundlach)
NEW YORK, Sept 21 Jeffrey Gundlach, chief
executive of DoubleLine Capital, said on CNBC television
onWednesday that he has been selectively shorting shares in some
restaurants, airlines and retailers.
He said economic growth has been sub-par and that will
continue to be reflected in certain names in the Standard &
Poor's 500 Index. "When the next recession comes - and it
will - all those categories are going to get killed," Gundlach
added in a follow-up interview with Reuters.
Gundlach said on CNBC that the latest move on Wednesday by
the Bank of Japan, which introduced a target for 10-year
interest rates in its latest bid to restart economic growth,
shows BoJ officials have given up on negative interest rates.
Gundlach, who oversees more than $100 billion at Los
Angeles-based DoubleLine, said BoJ officials have moved away
from negative interest rates as they harm banking systems.
"When you see pivots like this, that means something else is
coming," Gundlach said, noting the possibility of fiscal policy.
(Reporting by Jennifer Ablan; Editing by James Dalgleish;
Editing by Sandra Maler)