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In June, Gundlach forecast that there would be a stock-market sell-off in the summer, triggered partly by rhetoric around Donald Trump's election win.
The biggest incident during the summer was the UK referendum, which sparked a sell-off, although many markets rebounded and then were mostly quiet for much of the unofficial post-Memorial-Day and pre-Labor-Day summer months.
However, there's still some concern that September could live up to its historical reputation as the worst month for stock-market returns.
In his previous presentation, Gundlach cautioned that negative interest rates were having the opposite effect in the economies using them, and said the Federal Reserve should not raise interest rates any time soon.