Breaking: Guggenheim’s Scott Minerd Passes Away Unexpectedly
On Wednesday, December 21, Guggenheim Partners made an announcement regarding the “untimely and unexpected death of Scott Minerd, one of Guggenheim’s Managing Partners and its Global CIO.” The cause of death was described as a heart attack during his regular workout regime.
Scott Minerd’s Untimely Death
Global investment and consulting financial services provider Guggenheim Partners offers investment banking, asset management, capital markets, and insurance services.
CEO and founder of Guggenheim Partners, Mark Walter, was quoted saying,
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.
Scott’s FTX Warning
Scott was a proponent of cryptocurrencies and frequently shared his takes and inputs about the up-and-coming blockchain industry. Quite recently, the late Guggenheim CIO talked about the FTX crypto exchange and its succeeding market turmoil in a telecasted interview.
Read More: Scott Minerd Warns Of More Crypto Fallouts Due To FTX Collapse
According to him, the FTX saga was not over yet as he predicted further shakeouts in the crypto industry. Scott hinted at multiple crypto firms either filing for bankruptcy or winding up their operations due to the FTX contagion spreading through the industry.
He was famously quoted saying:
There’s another shoe to drop – I can’t tell you where it is. There is going to be wash out just like the internet bubble.
Community Pays Tribute
In a statement, the company said their investment professionals at Guggenheim will honor Scott by carrying on his legacy — by incorporating the systems and procedures that Scott developed — in order to manage client portfolios.
The official announcement concluded by saying:
We will have much more to say in the next few days about Scott and his many contributions to our firm and to the communities we serve.
Prominent hedge fund manager Tom Hearden also expressed his sorrow on the untimely demise of Scott, on Twitter.
Sorry for you loss Scott Minerd family and friends
— Tom Hearden (@followtheh) December 22, 2022
Guggenheim later assured that there would be no disruption of service to their clients and also assured of no change in the daily management of client portfolios, all of which are handled by their investment professionals.
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