EDITOR NOTE: Guggenheim Partners Scott Minerd is getting some prime media spotlight after predicting bitcoin’s major correction a few weeks ago. As a global investment and advisory firm, Guggenheim’s word holds a great degree of (Wall) street “cred,” one that may be worth paying attention to, if only for input as to near-term directionality. According to Minerd, the crypto crash isn’t quite over. There’s more downward depth to cover. And as for the stock market, it's due for a major correction, around 10% he estimates, though he’s bullish on stocks overall. That last bit isn’t very surprising, given the current monetary and fiscal environment. The trick is taking advantage of the market and economic environment, rain or shine, without losing your capital or your fortune. To remain in this market unhedged is perhaps the most foolish thing you can do. It's the “herd” thing to do. Pigs may get slaughtered, proverbially speaking, but nobody’s heard of the “herd,” as their underperformance hardly makes it to the field. They’re a data point not worth paying attention to because there’s nothing spectacular about their performance. To be “all in” stocks or to hold cash without holding physical gold or silver is to have full confidence in the Fed and the fiat system. It would also mean ignoring the growth and preservation potential of a sound money safe haven when stocks fall and inflation rises. The stock market correction and big gold rally may be short term, but the plunge of your purchasing power may be more severe and lengthy than most are expecting, especially if what comes is a big gold rally.
Guggenheim Partners’ Scott Minerd predicts a stock market correction of about 10% is coming, though he believes the S&P 500 will recover in the longer term.
The firm’s global chief investment officer also remains bullish on gold and silver as investors search for assets to protect against inflation.
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