Back on May 29, the weightlifting CIO of the $265 billion asset manager, made a gloomy forecast on CNBC, predicting that the stock market sell-off is likely far from over, and said stocks would go "somewhere below the lows in December." Near term, he saw an "immediate move" down to around 2,730 on the before it drops further. Oh, and he also said the next move by the Fed will be a rate hike.

Oops.

Not even two months later, everything miraculously changed, and on July 15, again on CNBC, Minerd changed his tune by 180 degrees, and no longer seeing any crash, said that he now thinks the S&P 500 could rise 15% and approach 3,500 before the end of year, comparing the current market environment to a 1998 rally amid interest rate cuts.