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Big Money Mistakes: Guggenheim’s Minerd Burned by Florida Housing Boom

Scott Minerd's first home purchase in 1980 left him with an enduring skepticism of real estate as an investment.

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Scott Minerd's Big Money Mistake: Real Estate Doesn’t Always Go Up
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A 40-year career in finance inevitably includes some bad investment calls.

For Guggenheim Partners’ Scott Minerd, one early mistake was diving head first into the south Florida real estate boom in 1980. He stretched his budget to buy his first home, only to find himself immediately stuck with a property that wasn’t worth its purchase price. The experience left Minerd, 63, with a personal financial loss and an enduring skepticism of real estate as a stable asset class.