April 11 (Reuters) - Jeffrey Gundlach, chief investment officer and chief executive of the $56 billion DoubleLine Capital LP, said on Thursday that his latest investment idea is a 'short' bet against the shares of Chipotle Mexican Grill .
'I was going to save this for the upcoming Ira Sohn (conference) ... but I think a good short is Chipotle,' Gundlach said at DoubleLine's annual luncheon at the Yacht Club in New York on Thursday. 'Gourmet burrito is an oxymoron.'
A year ago at the same investor luncheon, Gundlach told an audience that he was shorting the stock of Apple Inc at $610 and correctly predicted that the Apple stock price would fall to $425.
Chipotle shares are down 2.6 percent in the wake of the Gundlach investment call. Gundlach declined to provide any further detail on Chipotle shares.
Late last year, hedge-fund manager David Einhorn said his latest short idea was Chipotle, calling the fast-food chain's shares overvalued. Einhorn outlined the bearish case for the company, arguing that Chipotle's business was vulnerable to competition.
(Reporting by Jennifer Ablan; Editing by Neil Stempleman) Keywords: INVESTING GUNDLACH/CHIPOTLE
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