Guggenheim’s Minerd Sees Another Archegos-Style Blowup as ‘Highly Likely’
- Guggenheim Investments chairman warns fallout may not be over
- Implosion of Bill Hwang’s family office captivated Wall Street
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Guggenheim Investments Chairman Scott Minerd said it’s only a matter of time before another firm implodes in a manner similar to Bill Hwang’s Archegos Capital Management.
“It is highly likely that we are going to have another situation like that,” Minerd said Monday in a Bloomberg Television interview. Major losses, such as those incurred by Archegos, “tend to continue to cascade until the market corrects and flushes the risk out of the system,” he said.