eNote

TCW’s Gundlach: “No market for old men” 

The worst of the nation’s housing debacle is yet to come, Jeffrey Gundlach, chief investment officer at Los Angeles-based mutual-fund company TCW Group Inc., told clients on a conference call yesterday. According to MarketWatch, which reported on Gundlach’s remarks, the influential CIO told investors Wednesday that the current credit environment was “no market for old men” and stressed that housing’s bottom was still not in sight.