Stocks are cheap and should rally 15% to 20%: Guggenheim's Scott Minerd
The stock market hasn't peaked yet, Guggenheim's head of investing told CNBC on Friday. Instead, right now it is going through a "classic seasonal adjustment," said Scott Minerd, the firm's global chief investment officer and chairman of investments. Guggenheim has $ 265 billion of assets under management. "Markets tend to continue to rise until after the Fed's last rate increase," he said in an interview with "Power Lunch." The Federal Reserve is expected to raise rates one more time before the end of the year and three times in 2019. In fact, Minerd...