Market Perspectives

  • September 2010

    01

    'Following the Mistakes of a Hero'

    by Scott Minerd
    Comparisons to the 1930s Continued Western Pennsylvania offers its residents unparalleled natural beauty if little else. I know, because it's where I grew up. Unfortunately, in the shadows of the Appalachians lies a region that has been economically depressed for decades, if not centuries. It was there that my grandparents, the working-...
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  • August 2010

    24

    'The Fed, Now and Then'

    by Scott Minerd
    Comparisons to the 1930s Continued One year ago this week, President Obama recommended Ben Bernanke for another term as Chairman of the Federal Reserve. In his commendation speech, the President credited Dr. Bernanke for leading the U.S. economy through “one of the worst financial crises the nation, and the world, has ever faced.” He we...
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  • August 2010

    17

    'Compared to the Incomparable'

    by Scott Minerd
    I hear it all the time: “The recession we’re recovering from is the worst downturn since the Great Depression.” Recently, even President Barack Obama has made such comparisons to the Great Depression when pointing out that it will take some time for the U.S. economy to recover from the staggering blows dealt in 2008 and 2009. While making compar...
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  • August 2010

    09

    'The Wages of Unemployment'

    by Scott Minerd
    The release of the U.S. Labor Department's latest employment data provided a unique opportunity to study the disconnect between political and financial market perspectives. Following a jobs report that President Obama described as a "good sign" for the economy, the Dow dropped 1.5 percent in intraday trading, the 2-year Treasury reached a...
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  • August 2010

    03

    'The Story in Housing'

    by Scott Minerd
    Two weeks before Abraham Lincoln became the sixteenth President of the United States, seven Confederate states elected Jefferson Davis as their own Commander in Chief and declared secession from the Union. In his 1861 inaugural address, Lincoln sidestepped the inherent moral conflict of slavery, choosing instead to plead for the peaceable reconc...
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  • July 2010

    26

    'The Dance of the Dollar'

    by Scott Minerd
    With all the challenges facing our economy, it’s nice to be able to shelf one or two concerns, even if it’s only for the near term. For example, in the short run, I am not overly concerned about inflation. In fact, in last week’s commentary, we discussed data that may signal the Fed’s need to provide additional money to the banking system via fu...
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AUTHOR BIO

Scott Minerd

CEO and Chief Investment Officer, Guggenheim Partners Asset Management

As Chief Investment Officer, Mr. Minerd guides the investment strategies of sector portfolio managers and leads a specialized research group focused on relative value shifts and global macroeconomic developments. Prior to joining Guggenheim in 1998, Mr. Minerd was a managing director with Credit Suisse First Boston in charge of trading and risk management for the Fixed Income Credit Trading Group. In that position, he was responsible for the corporate bond, preferred stock, money markets, U.S. government agency and sovereign debt, derivatives securities, structured debt and interest rate swaps trading business units.

Previously, Mr. Minerd was Morgan Stanley’s London based European Capital Markets Products Trading and Risk Manager responsible for Eurobonds, Euro-MTNs, domestic European Bonds, FRNs, derivative securities and money market products in 12 European currencies and Asian markets. Mr. Minerd has also held capital markets positions with Merrill Lynch and Continental Bank. Mr. Minerd holds a B.S. degree in Economics from the Wharton School, University of Pennsylvania, Philadelphia, and has completed graduate work at the University of Chicago Graduate School of Business and the Wharton School, University of Pennsylvania.

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