Investing Pioneer Arnott Sees 50% Recession Risk in 2024, Warns Growth Stocks Vulnerable

Investing pioneer Rob Arnott said there's a 50% chance of a recession in 2024.

Arnott said recessions always start with a booming economy, contrary to popular belief.

US stocks look vulnerable, while bonds are more attractive than at lower yields, per Arnott.

Arnott warned US growth stocks are particularly vulnerable to a downturn.

Persistent inflation supports the case for value stocks over growth stocks, he said.