Billionaire investor Ron Baron said Friday that the recent US stock market crash could present Americans with a “monstrous” opportunity when looking at the economy from a long-term perspective.
In an email sent to CNBC scream boxBaron said: “This is a HUGE one-in-a-gen BUY opportunity. Huge monstrous opportunity after the crash of June 2022 (June 2020 TOO)!”
He said his two sons, who are also investors, now have the same luck as when he founded Baron Capital, a New York-based investment management firm known for its long-term investment strategies, in 1982 – when the Dow Jones Industrial fell to 880 in a bear market.
A “bear market” is a term used by Wall Street when the stock market drops 20% or more for an extended period of time, and usually indicates an economic recession. The most recent bear market started on February 19, 2020 and ended just over a month later on March 23, according to financial content site Seeking Alpha, and was largely caused by the impact of COVID-19. This bear market lasted 33 days, making it the shortest the economy has ever seen, as the stock market rebounded later that year and remained strong through 2021.
The investor’s optimism comes in response to Thursday’s news that the Dow fell below 30,000 for the first time since January 2021 – a wake-up call for many investors who feared aggressive federal hikes to curb the inflation does cause a recession.
While the 1982 bear market caused economic hardship for many Americans, it was fueled by what became one of the biggest bull markets in Wall Street history.
With Paul Volcker as Chairman of the Federal Reserve during the administration of President Jimmy Carter, interest rates were cut and inflation was down, setting the stage for the profit boom of the mid to late 1980s. .
Notably, Baron’s predictions are for long-term investing, rather than day trading, and reflect much of the advice the investor gave about the economic benefits of seeing compound interest accrue.
Today’s political landscape bears some similarities to the circumstances of 1982, when the United States also faced challenges against the Soviet Union in some of the most difficult days of the Cold War. However, the economy’s rapid recovery has been cited as a reason for Americans to invest even in times of high inflation.
Baron’s comments were also echoed by Sylvia Jablonski of Defiance Investments, who said she felt optimistic heading into this weekend compared to last weekend when it was reported that the inflation had reached a 40-year high.
“It’s a great generational opportunity. It’s going to end up being noise when you think about it,” Jablonski said. scream box Friday.
However, she warned that the next few months would be difficult for investors likely to face limited volatility.
“In the short term, it’s painful, it’s terrible and we have to get through it,” she said.
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