Jeffrey Gundlach, the CEO of DoubleLine, has cautioned that the current stock market is as overvalued as it was at the beginning of the previous bear market, which could signal a looming downturn. What Happened: The billionaire investor, speaking at the Exchange Traded Funds (ETF) conference on Tuesday, warned that stocks are currently trading at levels similar to those seen at the onset of the previous bear market, reported CNBC. “The stock market on traditional measures — P/E, price to book, all that stuff — is as overvalued as it was two years ago, but bond yields are about 500 basis points…
