Most People Have No Idea What Will Happen In 2023 | Elon Musk

Most People Have No Idea What Will Happen In 2023 | Elon Musk
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►In this video, Elon Musk, CEO of SpaceX and Tesla, discusses that the economy is headed for a recession in 2023, which he estimates will be on the same level as the recession in 2009. He advises people to prepare for the worst, hope for the best, and to be cautious about margin debt in a volatile stock market. He also advises people to keep cash on hand and to be aware of the possibility of extreme market fluctuations. He mentions the example of Broadcom, a good company that went down 97% from peak to trough in less than 12 months. He also mentions that the economy is cyclic and that the current boom has lasted for 14 years, and that a recession is overdue. He predicts that the recession will last for around a year and a half, and that things will start to improve in Q2 of 2024. He advises CEOs of portfolio companies to be at cash flow break-even now or extend their runway to Q1 of 2025 and give themselves a two to three quarter buffer to raise money. He mentions that some companies are in precarious positions and need to take action. He also mentions that investor Stan Druckenmiller predicted the bear market rally in July and August of 2021, and is now predicting a hard landing in 2023 with a deeper recession than many expect. He suggests that Druckenmiller may be right again, and advises people to keep an eye on his predictions.

► Special Thanks & Credit to: Elon Musk

Disclaimer: This video is for educational and entertainment purposes only. I am not a financial adviser. Please do your own research and consult with a professional before making any investment decisions.