Jeffrey Gundlach, a professional investor, did not like Chipotle, the gourment Mexican food chain. “Gourmet burrito is an oxymoron,” he said in April 2013. The saying quickly spread through the financial markets.
Gundlach Poised to Join Einhorn’s Chipotle Short
BY Antoine Gara| 04/11/13 - 02:01 PM EDT
NEW YORK (TheStreet) - Jeff Gundlach, head of investment manager Doubleline Capital is poised to join David Einhorn of Greenlight Capital in shorting the shares of Chipotle Mexican Grill (CMG), according to a Thursday presentation.
At a luncheon at the New York Yacht Club on Thursday, Gundlach indicated he will present Chipotle as a short trade at the upcoming Ira Sohn Conference in May.
“Gourmet Burrito is an oxymoron,” Gundlach said on Thursday referring to Chipotle, according to TheStreet contributor Joshua Brown, who is attending the presentation.
STOCKS RALLY AND BITCOIN COLLAPSES AGAIN: Here’s What You Need To Know
Sam Ro | Apr. 11, 2013, 4:00 PM
Bond god Jeff Gundlach gave a presentation, in which he explained to investors why a bond market crash wasn’t imminent. Among other things, he unveiled his hot new trade: short Chipotle. “Gourmet burrito is an oxymoron,” said Gundlach according to Reformed Broker Josh Brown. Chipotle fell by over 3 percent today.
“Gourmet burrito is an oxymoron.” —Jeff Gundlach #qotw
6:48 AM - 12 Apr 13
Stock Downgrades: Lights Go Out on General Electric
By Justin Sharon Apr 22, 2013 9:25 am
Some equities did buck a bad tape. Chipotle Mexican Grill (CMG) gained 7.1% and is now up some 56% since October alone. An investment bigwig recently said its “gourmet burrito is an oxymoron,” but the company would likely return the compliment on him, maybe minus the first two syllables of the last word.