April 23, 2018 / 5:14 PM / a year ago

Gundlach says buy oil producers, bet against Facebook -conference

NEW YORK, April 23 (Reuters) - Billionaire investor Jeffrey Gundlach said investors should consider betting against Facebook Inc, saying the prospect of regulation still hangs over the social media company’s stock.

Speaking at the Sohn Investment Conference in New York, the closely-watched DoubleLine Capital LP chief executive officer recommended a trade of shorting, or betting against, Facebook while betting on gains in an exchange-traded fund that tracks oil and gas explorers and producers who could benefit from rising inflation. (Reporting by Trevor Hunnicutt Editing by Nick Zieminski)

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