The rising threat of COVID-19's delta variant means now might be a good time for investors to take profits and sell, according to Guggenheim's Scott Minerd.
September and October are likely to be "very rough" months for stocks, the chief investment officer told Bloomberg.
Minerd's remark seems a tad surprising as he had reiterated a bitcoin price target of as much as $600,000 just last month.
Major losses triggered by Archegos "tend to continue to cascade until the market corrects and flushes the risk out of the system," Minerd said.
The Guggenheim global CIO said that throughout history, every recession has been followed by a trough in interest rates.
Stocks could continue to go higher at least through the end of the first quarter given the massive stimulus out of Washington and the Fed’s purchase program, according to Guggenheim’s Scott Minerd. The chairman of investments and global CIO told CNBC on Thursday “Stocks have a green light…I probably would […]
Bitcoin should be worth $US400,000 based on its finite supply and value compared with gold, Guggenheim’s Scott Minerd told Bloomberg on Wednesday. “Our fundamental work shows that bitcoin should be worth about $US400,000,” he said. “It’s based on the scarcity and relative valuation such as things like gold as a […]
Guggenheim Partners revealed in a Friday regulatory filing that its Macro Opportunities Fund holds the right to invest up to 10% of its net asset value in Grayscale Bitcoin Trust. The trust solely invests in bitcoin, and a 10% bet from Guggenheim’s fund equates to roughly $US530 million. The filing […]
Scott Minerd said on Friday that the current calm in the stock market is not the end of the storm but the eye, and political and economic turmoil will lead to a large move lower. Guggenheim’s global investment chief said the lack of a fiscal stimulus before Election Day increases […]
Scott Minerd spoke on a panel at the Milken Institute 2020 Global Conference on Monday and said that the markets are betting on a Joe Biden win. The Guggenheim chief investment officer explained that stocks that would flourish under a Biden win, like those in alternative energy, are flourishing right […]
Scott Minerd, Guggenheim global CIO told Bloomberg on Wednesday it is “virtually impossible” for the Fed to achieve inflation above 2% without creating a bubble in asset prices. “The reality is that the inefficiencies that are building up in the system because of all the malinvestment are going to prove […]
Guggenheim Securities’ Jim Millstein told Bloomberg on Tuesday that investors should brace for a period of significant volatility ahead. The co-chairman cited uncertainty around the election and the lingering covid crisis as sources of volatility. He also said it’s “obvious” there has been a bubble around technology stocks. Visit Business […]
Guggenheim’s Minerd said he believes markets will have “severe problems” if Congress can’t reach a deal on next stimulus. The chief investment officer said now is a particularly vulnerable time of year for equities. Minerd said that unemployment will rise if policy adjustments aren’t made. Read more on Business Insider. […]
Negative interest rates are coming to the US, Guggenheim CIO Scott Minerd said in a note published on Sunday. Minerd sees the 10-year US Treasury rate tumbling to 25 basis points, before hitting his target of negative 50 basis points in the coming years. Minerd warned that it’s not sustainable […]
The US economy will recover in an L-shaped trend over four years, Scott Minerd, chief investment officer at Guggenheim Investments, wrote in a Sunday note. Lockdowns will be reversed gradually, and rolling periods of lockdown will likely continue into 2022, he added, citing a Harvard study. The government and Federal […]
Scott Minerd of Guggenheim called the coronavirus “possibly the worst thing I’ve ever seen in my career” in an interview with Bloomberg Television on Thursday. He also said that the Federal Reserve is “fairly impotent” to stop the market damage as “lowering interest rates isn’t going to encourage somebody to […]
One of America’s wealthiest families has come under fire for its role in developing and marketing OxyContin. The Sackler family amassed a fortune through the Connecticut-based company Purdue Pharma, which launched the highly addictive drug that has been at the heart of America’s opioid crisis. The growing pressure on the […]