Jeff Gundlach is opening a new fund

REUTERS/Brendan McDermid

Jeffrey Gundlach, chief executive and chief investment officer of DoubleLine Capital

Jeff Gundlach's DoubleLine Capital has a new fund (Investment News)

Bond guru Jeff Gundlach's DoubleLine Capital has announced its first commodity-based investment product. According to Investment News, the fund is DoubleLine's first to not focus primarily on stocks or bonds, and will be managed by Jeffrey Sherman, who was at TCW with Gundlach before his split from the firm. Marketing material released by DoubleLine says the fund will take both long and short positions in commodities.

Investors just piled into stocks (Business Insider)

Data released by Bank of America shows investors piled into stocks at their fastest pace since at least 2008 in response to last week's market downturn. BofA clients were net buyers of $5.6 billion worth of US equities between August 24 and August 28. Even corporations got in on the shopping spree, buying back their own stock at the fastest pace in 18 months.

It's costs more to own then rent (John Burns Real Estate Consulting)

John Burns Real Estate Consulting says potential buyers should be aware of these things. 1) The vast majority of first-time homebuyers are putting down 10%, not 20%. 2) A lot of buyers aren't saving any money on their taxes. 3) You shouldn't take into account future home value appreciation when making the rent versus own decision. According to John Burns Real Estate Consulting, owning is $146 more expensive per month, on average, across the US. Looking at both ends of the spectrum, the cost to own versus rent is 85% more expensive in San Francisco and 24% cheaper in Chicago.

Most Americans are clueless about retirement (Think Advisor)

A BMO Premier Services survey showed 44% of the 3,163 Americans surveyed have no idea when they will retire. In addition, the survey found 57% of respondents don't know how much money they will need to retire. The average American begins saving for retirement at 28 years old, according to the results.

The US wants to change broker compensation for retirement accounts (Reuters)

The US Department of Labor wants to block brokers from receiving commission on retirement products. Under the new rules, brokers would only be allowed to receive fee-based compensation, or a flat percentage of the retirement account's value. According to Reuters, "The DOL would allow commissions for easily valued investments including exchange-traded stocks and bonds, but only if brokers sign contracts giving customers the right to bring class-action lawsuits if their best interests are not met." Brokers say the new rule will prevent low- and middle-class clients from having the opportunity to invest in higher yielding products.