Guggenheim Partners recently made the announcement that their Chief Investment Officer, Scott Minerd, unfortunately passed away on the 21st December after suffering a heart attack during a routine exercise.
Scott Minerd passed away
According to Mark Walter, the CEO and founder of Guggenheim Partners:
“I have known Scott for over 30 years and we were partners much of that time. Scott was a key innovator and thought leader who was instrumental in building Guggenheim Investments into the global business it is today. He will be greatly missed by all. My deepest condolences are with his husband, family and loved ones.”
Scott was one of the most important people at Guggenheim and had become well-known for his commentary on the markets and the companies investments, both across social media and the television screen.
He was one of the main figures at the firm and ensured that the company was able to grow and scale with efficiency over the years.
Scott Minerd predicted another crypto “washout”
As one of the most prominent forecasters in Bitcoin, Scott Minerd predicted only very recently that there was likely more pain to come for the markets, even after the FTX collapse.
In addition, he has been vocal about his bearish thoughts for wider and more traditional markets.
Today's #PMI release places US #manufacturing firmly in #recession territory. Readings below 48.5 historically indicate contraction in manufacturing activity.
— Scott Minerd (@ScottMinerd) December 16, 2022
He explained that there are over 19,000 coins and tokens, and that many of these are simply without value or overpriced. As such, he believed that it was necessary for there to be “a washout”.
Nevertheless, when asked about whether or not he believes that Bitcoin and crypto can continue to move forward in the coming years, he responded in the affirmative.
Who is leading Guggenheim Partners now?
Now that Minerd has passed, the company wishes to reassure the public that they have prepared for such an eventuality, and it will not damage their operations significantly given that they had a succession plan to prepare for such unexpected events.
In tribute to Minerd, the investment professionals at Guggenheim Partners are to continue to “use the processes and procedures Scott helped build to manage Guggenheim’s client portfolios”.
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