Last year was the proverbial train wreck meets the dumpster fire. All the major indexes closed lower to end 2022, with the Nasdaq leading the way.
So things look like they will be getting better in 2023 right? Well, perhaps not, according to Elon Musk. The Twitter and Tesla chief executive and principal owner said that he feels that the next 18 months could be very rocky, and he advised investors to hoard cash and keep their powder dry.
Many strategists on Wall Street are in the same camp as Musk, and most think we do indeed have a recession emerging. However, many feel that the second half of 2023 could be the turning point for stocks and the economy, instead of Musk’s 2024 prediction.
We decided to look for cash-related ideas that could be helpful to those who want to play it safe after a wretched 2022 but who may want to have liquidity so they can be ready to get in the game when the market looks like it is ready to bounce back.
This post appeared first at 24/7 Wall St.