{"id":71179,"date":"2023-10-10T20:58:45","date_gmt":"2023-10-11T00:58:45","guid":{"rendered":"https:\/\/ifintechworld.com\/investing\/stock-market-likely-to-see-12-retreat-ahead-of-recession-says-trader-who-called-87-crash-2\/"},"modified":"2023-10-10T20:58:48","modified_gmt":"2023-10-11T00:58:48","slug":"stock-market-likely-to-see-12-retreat-ahead-of-recession-says-trader-who-called-87-crash-2","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=71179","title":{"rendered":"Stock market likely to see 12% retreat ahead of recession, says trader who called \u201987 crash"},"content":{"rendered":"
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\n \u201c<\/span>\u2018The stock market, typically, right before recession declines about 12%.That\u2019s probably going to happen at some point from some level.\u2019\u201d<\/span>\n <\/p>\n


\n \u2014 Paul Tudor Jones, founder and CIO, Tudor Investment Corp.<\/span>
\n <\/small><\/p><\/div>\n<\/p><\/div>\n

That\u2019s famed hedge-fund manager Paul Tudor Jones in an interview with CNBC Tuesday morning, explaining why he\u2019s not enthusiastic about U.S. stocks and other risky assets as he awaits a recession induced by the Federal Reserve\u2019s aggressive monetary tightening.<\/p>\n

Jones said it\u2019s difficult to be positive on equities amid what he described as \u201cthe most threatening and challenging geopolitical environment that I\u2019ve ever seen,\u201d which is occurring \u201cat the same time the United States is at its weakest fiscal position since World War II. It\u2019s a really difficult time.\u201d<\/p>\n

\n

A 2023 rally in U.S. stocks has stalled, with the S&P 500 index
\n SPX
\n pulling back 5.5% from a 2023 high set on July 31, leaving the large-cap benchmark up 12.9% for the year to date through Monday\u2019s close. The Dow Jones Industrial Average
\n DJIA
\n is up just 1.4% so far this year.<\/p>\n

Jones is widely credited with predicting, and profiting, from the stock-market crash on Oct. 19, 1987, which saw the Dow lose nearly 23% of its value, marking the largest one-day percentage decline for the blue-chip benchmark in its history.<\/p>\n

So what does Jones like?<\/p>\n

\u201cI would love gold and bitcoin, together,\u201d he said.<\/p>\n

\u201cI think [bitcoin and gold] probably take on a larger percentage of your portfolio than historically they would because we\u2019re going to go through a challenging political time here in the United States and\u2026we\u2019ve obviously got a geopolitical situation\u201d in Israel and Ukraine, Jones said.<\/p>\n

Bitcoin
\n BTCUSD,
\n +0.21%<\/bg-quote>
\n was off 0.8% near $27,380 Tuesday morning and has rallied around 65% so far in 2023. Gold
\n GC00,
\n -0.02%<\/bg-quote>
\n has retreated from a high above $2,000 an ounce earlier this year, slumping below $1,850 last week as Treasury yields marched higher and the dollar strengthened.<\/p>\n

A pullback in U.S. bond yields has seen gold bounce 1.4% this week, trading recently near $1,871 an ounce.<\/p>\n

Large, speculative short positions in gold will provide fuel for a rally as a recession takes hold, the investor said.<\/p>\n

\u201cIn a recession, the market is typically really long assets like bitcoin and gold,\u201d he said. \u201cSo there\u2019s probably $40 billion worth of buying that has to come into gold at some point between now and if that recession actually occurs.<\/p>\n

\u201cSo yeah, I like bitcoin and I like gold right here,\u201d Jones said.<\/p>\n<\/p><\/div>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

\u201c\u2018The stock market, typically, right before recession declines about 12%.That\u2019s probably going to happen at some point from some level.\u2019\u201d \u2014 Paul Tudor Jones, founder and CIO, Tudor Investment Corp. That\u2019s famed hedge-fund manager Paul Tudor Jones in an interview with CNBC Tuesday morning, explaining why he\u2019s not enthusiastic about U.S. stocks and other risky […]<\/p>\n","protected":false},"author":1,"featured_media":71149,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[239],"tags":[83],"class_list":["post-71179","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-investing","tag-featured","post_format-post-format-video"],"yoast_head":"\nStock market likely to see 12% retreat ahead of recession, says trader who called \u201987 crash | iFintechWorld<\/title>\n<meta name=\"description\" content=\"\u201c\u2018The stock market, typically, right before recession declines about 12%.That\u2019s probably going to happen at some point from some level.\u2019\u201d \u2014 Paul Tudor\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, 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