Former Vice President Joe Biden has become a “place holder” candidate who will most likely not become the Democratic presidential nominee, according to “Bond King” Jeffrey Gundlach. “I have a nickname for him, Jurassic Joe. It’s not a reference to his age. It’s a reference to the fact that he is a politician from a different era,” Gundlach, the DoubleLine Capital co-founder and CEO, said during an exclusive interview with FOX Business’ Neil Cavuto on Wednesday.
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Biden is currently the Democratic frontrunner and is leading in several states against President Trump. Gundlach said the former Delaware senator has been running for the highest office of the land for the past 32 years, amassing zero delegates over the those three decades.
“So it’s almost hilarious that he is called this electable candidate because he dropped out in 19 on a scandal, then he made it to Iowa in 2008 and got less than one percent of the vote,” he said. “His time has passed.”
Gundlach is referring to Biden's first presidential run in 1988 marred by a plagiarism scandal.
Critics of Biden suggest he is not in touch with today’s progressive movement from the far-left and is more accepted by traditional Democrats. Gundlach said the progressive movement within the Democratic Party will be problematic in the 2020 presidential election as the party’s old establishment begins to warm up to candidates like Massachusetts Senator Elizabeth Warren.
“I think she has a better chance than Joe Biden,” he said. “I also think [Pete] Buttigieg has a reasonable chance too.”
FOX Business’ Charlie Gasparino reported that the former vice president hasn’t had any problems raising money for his 2020 presidential campaign after a major fundraising event was held at the home of hedge fund billionaire Jim Chanos on Monday in New York City. The campaign has raked in more than $500,000 in donations.