A Conversation with Guggenheim’s Scott Minerd—Litman Gregory Investment Forum

At our recent Investment Forum, held November 2019, Litman Gregory senior research analyst Jack Chee interviewed Guggenheim Global CIO Scott Minerd. Their conversation touched on Guggenheim’s investing approach, recession risk, the corporate bond market, the trade war, and even immigration. Here are clips of their discussion:

Building a “Slow-Thinking” Team


Drawing off Adam Smith’s The Wealth of Nations and the work of Nobel Prize–winner Danny Kahneman, Scott Minerd was the main architect of Guggenheim’s “slow-thinking” team approach.

Indian Summer


Guggenheim’s Scott Minerd likens the current market environment to an Indian summer. A return of warm weather right before winter common in the Northeast: It usually comes late … and it’s relatively short-lived.

Corporate America: Ground Zero of the Next Crisis


Overleveraged corporate America and the corporate bond market will be the ground zero of the next financial crisis according to Guggenheim’s Scott Minerd.

The Fed: The Only Game in Town?


Scott Minerd: “The source of, and solution to, every financial crisis is the central bank.”

Avoiding the Death Spiral


Guggenheim’s Scott Minerd says all you have to do is look back to 1930 and the Smoot-Hawley Tariff Act to see how a tit-for-tat trade war can escalate into a “death spiral.”

Learning from Australia


Scott Minerd discusses the need for a rational immigration policy that supports entrepreneurship and labor force growth.
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Year-End 2018 Investment Commentary

Across the board, it was an extremely difficult year to make money in the financial markets, with almost every asset class and financial market down for the year. The contrast with 2017’s strong market results is also striking—and serves as a useful reminder of the unpredictability of markets.

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