$1.1 Trillion Investor Forecasts 2024 Recession, But Sees Pockets of Stock Market Strength
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A $1.1 trillion investment chief expects a recession in 2024 due to weakening consumers, slowing job growth, and potential "black swan" events.
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Stocks likely won't see major gains in 2024 - the S&P 500 is already trading at historically high valuations.
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However, some opportunities exist within materials, utilities, REITs, big tech, and emerging markets.
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Specific stocks like CMS Energy, Prologis, Microsoft, and Amazon are positioned for continued growth.
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Brazil, Mexico, and Indonesia stand out within emerging markets as recession hedges.