The world, according to the richest people on the planet, is going into recession by November 2020 and clearly the rich and famous are preparing by stockpiling cash in large amounts. People are stepping away from markets as over invested sums of money would suffer, with losses of 20 to 40%, or billions for said investors.
Many investors are in protection mode as they are putting cash away and waiting for the recession to come and go – then of course reinvest. The World Bank cut its growgth forecast to the slowest in a decade, and a group of economists surveyed by Bloomberg predicted a 35% chance of recession in the next 12 months, with this being 4% higher from a survey just 30 days ago. The wealthy of the world have been very good at forecasting recessions and this time they might get it right again as the US and China Trade War heats, and growth slows to a pace we have not seen in years.