Don’t be a Scott Minerd

By Progressive

Imagine you are ALWAYS wrong and when right it’s the broken clock is right twice a day?  Imagine you are the CIO of a major firm Guggenheim and getting paid millions despite being a perfect contra indicator.  Look up the Peter Principle.  The picture next to it would be Scott Minerd from Guggenheim.  Presumably at some point in his career he did something right?  Or maybe just a good orator?  Well, a month ago, Scott said in a CNBC interview that rates had peaked and still was bullish on his 10-20% stock gains for 2022.  My point?  Nobody is perfect?  Batting .300 in baseball (7 out of 10 times you whiff) can make you millions?  In all seriousness, the point here is stay humble, it can always be worse.  I doubt Scott even feels one scintilla of doubt or shame and will just stick to his horrible call.  And this is an EXPERT folks!  How are you doing in 2022?  Surviving the bloodbath?  If so, you are doing better than the expert(s) and need to keep a clear head on what’s next in the markets.  Being nimble, changing your mind and dusting yourself off after a tough week is all part of investing.

So where are we now?  We told you to wait for the flop.