Jeffrey Sherman and Sam Lau Talk with DoubleLine's Joe Galligan on The Sherman Show™

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Oct 24, 2017, 10:05 ET

LOS ANGELES, Oct. 24, 2017 /PRNewswire/ -- DoubleLine Deputy Chief Investment Officer Jeffrey Sherman and Asset Allocation Analyst Sam Lau welcome Joe Galligan, an executive vice president and founding member of DoubleLine Capital, as their guest for the latest edition of The Sherman Show™ podcast.

To access the episode, please click here: https://doubleline.com/podcast/s2-e4-joe-galligan/

For the earlier episodes of The Sherman Show, click here: http://doubleline.com/podcasts/

The conversation starts with Mr. Galligan's decision to leave the mortgage-backed securities desk at the sell-side firm Smith Barney in 1991 to join a newly formed, two-man MBS group formed by Jeffrey Gundlach and Philip Barach at TCW, a Los Angeles-based investment firm. The discussion then turns to DoubleLine's scenario-based approach to MBS investing, which was originated by Messrs. Gundlach and Barach three decades ago. Mr. Galligan contrasts DoubleLine's approach to the simplistic two-dimensional investment analysis prevailing among most professional MBS investors. Messrs. Galligan, Lau and Sherman also discuss such topics as the limits of applying computer models to real-world markets, the importance of avoiding chasing market moves and patience in waiting for opportunity, the lessons of mortgage market implosion and opportunity of 1994, "unnatural money" (aka "tourist money") and bull markets, the credit meltdown and distressed opportunities of 2008-2009, and securities fundamentals versus market technicals.

Mr. Galligan is a founding member of DoubleLine. Before joining DoubleLine at the time of the firm's founding in 2009, Mr. Galligan was a managing director and portfolio manager at TCW where he had worked since 1991. Prior to TCW, he was a vice president in the MBS group at Smith Barney. He previously spent five years at First Boston as vice president in the same area. In addition, Mr. Galligan spent three years at Scudder Stevens & Clark as a portfolio manager/Trader. Mr. Galligan holds a BS in Economics with a concentration in Finance from the Wharton School of Business at the University of Pennsylvania. He is a CFA charterholder.

About DoubleLine Capital LP

DoubleLine Capital LP, registered investment adviser under the Investment Advisers Act of 1940, managed $115 billion in closed- and open-ended 1940 Act funds, exchange-traded funds, separate accounts, hedge funds, variable annuities, UCITS and other vehicles as of the September 30 end of the third quarter of 2017. DoubleLine's Los Angeles offices can be reached by telephone at (213) 633-8200 or by e-mail at [email protected]. Media can reach DoubleLine by e-mail at [email protected]. DoubleLine® is a registered trademark of DoubleLine Capital LP.

SOURCE DoubleLine