Scott Minerd discusses the importance of transitioning sustainable development into an institutional asset class.
Investors need to be vigilant, as stocks and bonds are expensive, volatility is low, and risks lay ahead.
Policymakers take heed: Successful economic policy is still determined by the four essential factors of production—land, labor, capital, and entrepreneurship.
Longer-term bond yields are near their highs for this cycle, while the environment for riskier assets like high-yield bonds, bank loans and stocks remains positive.
Central bank policies implemented in the near-term may seem extreme today, but they will likely soon become policy orthodoxy.
In the long run there are certainly issues to be sorted through, but in the short run Brexit is a buying opportunity.
Faced with a sharply appreciating yen, and lacking G7 support, Japan may need to take extreme measures.
Smart, strategic investments in sustainable development today can deliver strong, stable returns, and make the world a better place.
The next challenge for central bankers is changing monetary policy when the economy has come to depend on it.
Combined with negative interest rates, fiscal and regulatory policies are doing little to support growth, and in most cases are restraining it.
While choppy markets require a strong stomach, they can provide an opportunity to allocate to assets that have been too heavily discounted.
In addition to serving as Global Chief Investment Officer of Guggenheim Partners and Chairman of Guggenheim Investments, Scott Minerd is also a member of the Federal Reserve Bank of New York’s Investor Advisory Committee on Financial Markets, an advisor to the Organization for Economic Cooperation and Development, and a contributing member to the World Economic Forum. Minerd is regularly featured in leading financial media outlets, including Financial Times, Barron’s, Bloomberg, CNBC, Fox Business News, Forbes, and Reuters.
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Global CIO Scott Minerd explains on Fox Business News at the Milken Global Conference that 2018 should enjoy robust economic growth and stock performance but Fed policy should bring recession by early 2020.
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