Market Perspectives

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Perspectives

Guggenheim Partners’ Chief Investment Officer Scott Minerd is known for his prescient calls on market events, including the 2008 sub-prime crisis, the end of the U.S. recession in 2009, the second round of quantitative easing in 2010 and the plunge in U.S. Treasury yields in 2011. As of January 2012, Mr. Minerd’s views include:

  • The U.S. economy has entered a self-sustaining recovery that will not be derailed by European recession
  • Long-term interest rates should remain low for an extended period of time; U.S. equities offer attractive opportunities for long-term investors

You can read more about Scott Minerd’s views in his written commentaries entitled “Market Perspectives,” as well as the media interviews posted to this site. To subscribe to Market Perspectives, readmore please click here.

February 16, 2012

Bloomberg: Bernanke Pushing U.S. Towards Inflation?

Guggenheim Partners CIO Scott Minerd gives his outlook for the Fed.

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February 03, 2012

Fox Business: Minerd Predicts 7.7% Unemployment by November

CIO Scott Minerd explains why he is bullish on job growth.

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January 31, 2012

CNBC: Why I Like U.S. Stocks: CIO Scott Minerd

CIO Scott Minerd explains why stocks will do well this year.

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January 10, 2012

CNBC: Draghi to Follow Bernanke's Lead?

CIO Scott Minerd comments on the positive economic momentum in the United States and progress in Europe on CNBC's "Street Signs."

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January 06, 2012

Scott Minerd on FOX Business News: Great Time to Invest in Housing

Scott Minerd of Guggenheim Partners weighs in on the December unemployment data and how to invest in today's market environment.

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December 15, 2011

FOX Business: Minerd: Hedge the Currency

CIO Scott Minerd weighs in on gold prices, the European debt crisis and the economy.

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December 01, 2011

FOX Business: Job Growth Will Support Strong Q4 Growth and Stocks

CIO Scott Minerd discusses the long-term outlook for inflation, the Fed’s future struggle to mop up excess liquidity, and the strong jobs and retail sales data that underpin his bullish case for Q4 GDP and U.S. stocks.

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November 28, 2011

CNBC: Could Europe's Pain = U.S. Gain?

As Europe sorts out its fiscal mess, does it signal opportunities for America? Scott Minerd weighs in.

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November 22, 2011

Bloomberg: Guggenheim's Minerd on Europe Debt Crisis, Strategy

CIO Scott Minerd talks about efforts by European leaders to resolve the region's sovereign-debt crisis. Minerd also discusses his investment strategy. He speaks with Adam Johnson on Bloomberg Television's "Street Smart." (Source: Bloomberg)

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November 17, 2011

FOX Business: Europe Not a Threat to U.S. Economy

CIO Scott Minerd explains why he's not concerned about the European economy's impact on U.S. markets.

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Market Perspectives

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December 2011

The Triumph of Optimism

Are the dark clouds finally breaking? There is positive economic momentum in the United States, progress in Europe, and global policy accommodations being implemented that are pro-cyclical and supportive of longer-term economic growth. Over the course of history there is a certain triumph of optimism. From an investor’s perspective, the best time to be an optimist is when there is a parade of pessimism marching down Main Street.

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November 2011

Return of the Phillips Curve

Worried about millions of Americans out of work, some members of the Federal Reserve’s policy committee say they’re willing to tolerate higher inflation. The idea that rising prices can reduce unemployment is rooted in the Phillips Curve, a half-century old economic theory. History shows the trade-off can hold, but only temporarily and only if expectations of inflation are well anchored.

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September 2011

Keep Calm, Carry On

Financial markets have been unnerved by Europe's sovereign debt crisis, a slowdown in global economic growth, and political rancor; but for far-sighted investors, today's market turmoil presents a rare opportunity. The torrent of liquidity unleashed by major central banks should be a boon for asset prices in the medium-term. Fundamentals, at least in the U.S., also remain far healthier than the market's recent slump implies.

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July 2011

Europe’s Cognitive Dissonance

European policymakers have had a hard time accepting the reality of the region’s debt crisis. Bailouts and belt tightening have merely postponed the inevitable: a restructuring of sovereign debts and harmonization of fiscal policies.

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May 2011

The Case for More Monetary Elixir

The surprise in 2011 may be lower rates as Treasuries and fixed income securities rally in the midst of growing uncertainty. Further down the road, if price pressures moderate, employment remains slow to recover, and fiscal headwinds mount, then Fed Chairman Ben Bernanke may fire up the printing presses once again.

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March 2011

Enjoy the Good Times While They Last

I believe long-term growth in the United States will be even stronger than the market is currently discounting. The vast amounts of monetary and fiscal stimulus that have been unleashed have created a rising tide of liquidity that’s lifting asset prices for just about everything except real estate.

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February 2011

The Economic Domino Effect

Restrictive monetary policy will lead to economic slowdown in the emerging markets in 2011. Since it's seldom a good bet to fight against central banks, emerging market equities are not the place to be for the next few years.

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January 2011

Europe's Gordian Knot

It's only a matter of time before Germany and France find the political will to lead Europe into a new era of fiscal unification. Ultimately, the motivation is the same reason Alexander the Great cut the Gordian Knot - the promise of ruling over a unified continent.

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Scott Minerd

Chief Investment Officer Scott Minerd guides Guggenheim’s investment strategies, helps clients construct portfolios and leads a research group focused on global economic trends. Mr. Minerd guides Guggenheim’s views on global developments, including geopolitical issues, monetary and fiscal policies and changes in the regulatory landscape. He is regularly featured on CNBC, Bloomberg News and Fox Business News.
 

Investment Research

In this issue of the Guggenheim Investment Focus, we offer our macro-perspectives on why we believe U.S. equities are well-positioned to sustain the current bull market advance for an extended period of time. Overall, we believe economic growth in the United States will be stronger than the market is currently discounting.

 READ REPORT

Investment Research

In this inaugural edition of our Investment Focus, we offer our perspective on the municipal finance market, a key vehicle for investors to access attractive risk-adjusted returns relative to other fixed income asset classes.

 READ REPORT