The CIO of Citi Global Wealth explains why an upcoming severe market sell-off will present good entry points for investors in 2023 — and shares the 6 areas where he foresees opportunities post-recovery
But in the post-recession recovery period, David Bailin expects to see a number of opportunities.Citi Global Wealth kicked off the new year by announcing that it expected 2023 t0 be theFour months later, chief investment officer David Bailin is still sticking to that stance, as well as his forecast of around two million job losses this year.
But even if earnings decline by less than analysts are currently anticipating, then Bailin says it makes sense for stocks to sell off again — prolonging the current bear market."You need to have the last third of the bear market be done in order to move through this cycle completely, and that has not happened yet," he explained.
However, Bailin cautioned that while these assets will preserve value right now, they won't be the high performers during the next bull market., Bailin believes that investors can afford to be optimistic about the post-correction recovery period.
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