Scott Minerd, chief investment officer at asset management firm Guggenheim, said the current market has “the greatest investment opportunity of a generation.” Moreover, he warned of some investments that he expects to decline.
Guggenheim’s Scott Minerd on ‘Generation’s Greatest Investment Opportunity’
Guggenheim Partners Chief Investment Officer (CIO) Scott Minerd shared what he believes to be the best investment in the current market and economic climate in a series of tweets on Monday.
Miner is chairman of Guggenheim Investments, Guggenheim Partners’ global asset management and investment advisory division. Guggenheim Investments has approximately $325 billion in assets under management across fixed income, equity and alternative strategies.
The Guggenheim CIO wrote:
The current market has experienced the greatest investment opportunity of a generation: the bonds of commercial good companies in the 80s.
“They pay the bottom line, as opposed to handing over the keys,” he added.
“Investors should look at the bonds of good companies that have been sold at very low prices,” warns Minerd.
While stocks are vulnerable to further declines, traditional private equity is the worst place to be.
Another well-known investor who has proposed bonds recently is billionaire Jeffrey Gundlach. He is bearish on the equity market, expecting the S&P 500 to fall 20% in mid-October. “Buy long-term Treasuries,” he advised investors to dip into long-term U.S. debt securities. Gundlach warned of the risk of price cuts.
Others who have warned of a slowdown in the US economy include Tesla CEO Elon Musk and Arc Investments CEO Kathy Wood. US President Joe Biden, however, is optimistic about the economy and pointed out that inflation has not increased for several months.
Recently, JPMorgan advised investors to move into value stocks while Goldman Sachs recommended commodities. Rich Dad Poor Dad author Robert Kiyosaki has warned that Fed rate hikes will destroy the US economy, advising people to invest in “real money”, naming gold, silver and bitcoin. Investors are urged to get into crypto now, ahead of the biggest crash in world history.
What do you think of Guggenheim CIO Scott Minerd’s recommendations? Let us know in the comments section below.
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