It is unclear which aphorism best describes the latest note from Guggenheim’s Scott Minerd:
- What goes up must come down
or
- The bigger they are, the harder they fall.
He is referring to what happens to every “bull market”, even the most patently rigged and manipulated ones such as the current one on the back of the Fed’s central planning and global central banks’ financial engineering, following what is now nearly 1000 days without a 10% correction.
From Guggenheim: