After Nailing 2022 Meltdown, Billionaire Chamath Palihapitiya Turns Bullish on the Stock Market – But There’s a Catch

Almost a yr after precisely forecasting this yr’s meltdown in international markets, billionaire investor Chamath Palihapitiya says he’s positioned to capitalize on a serious market rally.

In a brand new episode of the All-In Podcast, Palihapitiya says he’s bullish on the S&P 500 as he believes the inventory market index has carved a short-term backside.

“What’s unbelievable on this chart is that when all people talks about being lengthy on the S&P 500, it was all the time actually a proxy for being lengthy Amazon, Fb, Google and Apple. On the peak, in Might of this yr, $0.25 of each single greenback of the S&P 500 had been these 5 firms. 

We all the time stated the market backside will likely be when the ‘generals’ get shot… It seems just like the generals have been shot. What’s unbelievable is that this week each single a type of firms aside from Apple actually reported fairly crappy earnings. They acquired completely taken to the woodshed. The proportion of those firms as a proportion of the S&P [500] is now off by 500 foundation factors. It’s down to twenty% but the markets are ripping increased right now…

I feel that is the purpose the place you must begin to get fairly constructive about the place issues are going as a result of if these things couldn’t convey the market down, it’s onerous to see one thing aside from an exogenous occasion, in all probability some Russia-Ukraine occasion, actually having a adverse influence. It appears fairly bullish for me.” 

Supply: All-In Podcast/YouTube

Crypto merchants typically hold an in depth eye on the S&P 500 as energy within the equities markets means that deep-pocketed buyers are allocating to risk-on property like shares and digital property.

Though Palihapitiya is bullish on the inventory market, he predicts the rally will seemingly be unsustainable. He says that he agrees with the feelings of fellow enterprise capitalist David Sacks who believes that the US will seemingly see an enormous recession subsequent yr because of the influence of the Fed’s speedy rate of interest hikes to the economic system.

“I feel the inventory market goes up. Then it’ll return down as a result of what David stated is correct. However for the quick time period, this factor goes up. We’ve typically been positioned for it to go up and in some unspecified time in the future, we’ll reverse and place for it to return down, but it surely’s going up.”


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