Scott Minerd of Guggenheim said Monday that the market is in Democratic presidential candidate Joe Biden to win the election.
Speaking at the Milken Institute’s 2020 World Conference, the leading investment officer said the actions that would flourish in Biden’s administration were doing much better right now than the actions that would blow trump up.
Minerd cited energy corporations of choice as an example of movements preparing for Biden’s victory. The Invesco Cleantech ETF is listed at a record level and the Nasdaq Clean Edge Green Energy First Trust has risen nearly 100 percent since the beginning of the year. The iShares Global Clean Energy ETF has been listed at its highest point since 2010, and the Invesco Solar ETF has been at its highest since 2011.
Minerd also said that the election solution “will be positive for the markets” and the primary threat of who will be the next president.
He added that a Democratic sweep would probably be the peak for the stock market in the short term, as there will be “a lot of stimulus. “
“I don’t see in the short term the crisis that many other people are proposing in terms of creating a Democratic administration,” the investment leader said.