Industry expert warns of new financial catastrophe

Jeffrey Gundlach, founder and CEO of DoubleLine Capital, predicts that another financial catastrophe is in the making -- that is, deeply indebted countries and companies will default after next year. Central banks may try to head off these defaults via monetary policy, which will risk higher inflation. Investors should protect themselves by investing in hard assets such as gemstones, art and commercial real estate, he says.

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