Scott Minerd Scott Minerd, who is the Chief Investment Officer of Guggenheim Partners and often speaks on macro and niche topics, has a net worth of about $5 million. On July 1, he wrote on Twitter that the US GDP for the second quarter of 2022 is likely to be negative for the second straight quarter.
He also said, “This, plus three (and probably four) consecutive negative LEI months, means a recession may have already started.” The market has been nervous about a possible recession, so Minerd’s warning stood out. What was his net worth at the time of his death?
He is also a member of the Investor Advisory Committee on Financial Markets at the Federal Reserve Bank of New York, an advisor to the Organization for Economic Cooperation and Development, and a contributing member of the World Economic Forum.
He is often quoted in business publications like the Wall Street Journal, Financial Times, Bloomberg, and CNBC, where he shares his insights and knowledge with the financial community.
Soon after he graduated, he got a job with PricewaterhouseCoopers, where he made about $15,000 a year. Before he joined Guggenheim Partners, he was the managing director at both Morgan Stanley and Credit Suisse.
Since 1998, Minerd has worked at Guggenheim, where he has been in charge of the firm’s investment strategy and managed client accounts with a wide range of fixed-income and equity assets.
What Was Scott Minerd Net Worth At The Time Of Her Death?
In 2021, Minerd was worth more than $325 million, according to the Local Report. He has many ways to make money, and when he manages Guggenheim’s investments, he could make or lose millions.
2Q real GDP is now tracking negative, which would make for the second consecutive quarterly contraction. This, plus 3 (and likely to be 4) consecutive negative months of the LEI suggests a #recession may have already begun. https://t.co/twCtyB0u7Q pic.twitter.com/C5Ggd6YFAE
— Scott Minerd (@ScottMinerd) July 1, 2022
Related Article : Is “Guggenheim Partners CIO” Scott Minerd Was Gay?
Minerd’s Views On Bitcoin Have Varied But He Expects A Downturn
In an interview with Bloomberg at the World Economic Forum in Davos, Minerd said that crypto and bitcoin haven’t proven themselves as trustworthy investments for institutions. And in May, he told Cnbc that Bitcoin has a lot of room to go down and could fall to $8,000, especially since the Fed is being tight.
But you should remember that at one point in December 2020, Minerd said Bitcoin would be worth around $400,000, and in February 2021, he changed his prediction to say Bitcoin would rise from $400,000 to $600,000. But by October 2021, Minerd said he had no more Bitcoin investments.
Cryptocurrency has had a very weak 2022, just like other risky assets. Because of high inflation, rising interest rates, and the collapse of stable coins, these assets have been sold off. The total market value of all cryptocurrencies is now only one-third of what it was in November 2021.
#Bitcoin could drop to $8,000, says @ScottMinerd, a more than 70% plunge from the current price. He also said most crypto is “junk” but that bitcoin and ethereum will survive (w/@lauren_feiner) #wef22 #davos https://t.co/FzyiLffd7x
— Arjun Kharpal (@ArjunKharpal) May 23, 2022