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Minerd Says U.S. Stocks Could Plunge 15% in ‘Very Rough’ Autumn

  • Guggenheim CEO expects buying opportunity after pullback
  • Sees bitcoin at $15,000: ‘Still more air to come out’

Guggenheim Investments Chairman Scott Minerd says September and October are very likely to be rough for stocks this year. He also talks about when the Federal Reserve may start tapering. He’s on “Bloomberg Markets: The Close.”

U.S. stocks could tumble 15% or more by the end of October in a challenging period for markets, said Scott Minerd, chairman and chief investment officer of Guggenheim Investments.

“September and October are likely to be very rough this year” for stocks, Minerd said in a Bloomberg Television interview Wednesday. “Maybe a pullback of 15% or slightly more. But once the Dodgers are at the opening game of the World Series, I think you’ll be able to buy.”