Jan
11
Guggenheim’s Minerd Sees Equity Bear Market, Oil Falling to $25
By-
`Worst is yet to come,’ says manager of $240 billion in assets
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First quarter turmoil may lead to buying opportunity, he says
The price of oil, which is trading at its lowest level in 12 years, will continue falling during the first quarter of 2016 and stocks are likely to follow, entering bear market territory, according to Scott Minerd, who oversees $240 billion for Guggenheim Partners.
“Look for more downside for oil, equities and credit,” Minerd said in an e-mail. “The first quarter is going to be rough but ultimately we should see this as a buying opportunity.”
Global stock markets slumped in the first week of 2016 as concern about China sent shock waves around the world. U.S. and European stock markets fluctuated on Monday, while Asia was down. Oil continued to trade lower…
Guggenheim’s Minerd Sees Equity Bear Market, Oil Falling to $25
