'Bond King' Jeffrey Gundlach tells investors to prepare for recession - and warns against trying to prevent a downturn

• Jeffrey Gundlach warned of a looming recession and advised investors to take precautions.
• The "Bond King" said stocks could drop, loan defaults might soar, and inflation may prove stubborn.
• The billionaire investor and DoubleLine Capital boss advised against trying to prevent the downturn.

Jeffrey Gundlach has raised the alarm on an impending US recession, warning investors they need to prepare for it regardless of how severe it ends up being.

Gundlach — whose nickname is the "Bond King" — is a billionaire investor and the boss of DoubleLine Capital. He warned stocks may come under pressure, loan defaults might surge, and inflation could prove stubborn in a recent Yahoo Finance interview.