For our first episode of Big Money Mistakes, Guggenheim Partners' Global CIO Scott Minerd shares a financial confession with Quicktake's Scarlet Fu: his misguided property purchase in Florida. A 40-year career in finance inevitably includes some bad investment calls. For Guggenheim Partners’ Scott Minerd, one early mistake was diving head first into the south Florida real estate boom in 1980. He stretched his budget to buy his first home, only to find himself immediately stuck with a property that wasn’t worth its purchase price. The experience left Minerd, 63, with a personal financial loss and an enduring skepticism of real estate as a stable asset class. Minerd, who guides investment strategies for Guggenheim’s $325 billion in assets as the firm’s global chief investment officer, kicks off Bloomberg Quicktake’s new series, “Big Money Mistakes,” to share his story of the misstep that shaped his thinking years later. “Prudence in investing, prudence in life has some real value,” he said. Like this video? Subscribe: https://bit.ly/3iERrup #Finance #RealEstate #Explained Bloomberg Quicktake is a global streaming news network for a new generation of leaders and professionals. Our coverage spans your whole world, from your career ambitions to your personal passions and larger societal concerns. We provide the insights you need to make sense of the trends and stories changing your business and your world. Bloomberg Quicktake: Explained brings you the context behind the headlines, helping you see the day's news through the prism of what will matter in the years ahead. Check out our partner channels Bloomberg Quicktake: Originals for original series and Bloomberg Quicktake: Now for breaking global news. To watch complete coverage on Bloomberg Quicktake 24/7, visit http://www.bloomberg.com/qt/live, or watch on Apple TV, Roku, Samsung Smart TV, Fire TV and Android TV on the Bloomberg app. Connect with us! YouTube: null Breaking News on YouTube: null Twitter: https://twitter.com/quicktake Facebook: https://www.facebook.com/quicktake Instagram: https://www.instagram.com/quicktake