Some people are able to predict the market better than others. Shervin Pishevar has made a lot of his fortune from his ability to predict which tech companies will be the most successful. As an early investor in such companies as Uber and Airbnb, it’s no surprise that he has a few predictions about the market in the U.S.
On February 5, Shervin Pishevar tweeted that he had a few thoughts on financial storms that were brewing. He made a prediction that there would be an aggregate 6000 point drop in the coming months.
What Shervin Pishevar was not without some background information. He had 49 additional tweets worth of thoughts, which included how the market has already given up its gains of 2018 and how interest rates are on the rise.
Shervin also explains how the bond market isn’t as deep as it was once believed to be and how many asset classes are being overvalued.
The Dow Jones
The tweets that Shervin Pishevar sent out took a total of 21 hours to be sent. Within 24 hours of those tweets being sent, which were predictions of the economy, the Dow Jones began to crash. Further, S&P was scrambling to find their footing.
In just half an hour, the Dow fell 500 points. While it still has a ways to go to make up the full 6000 points that Shervin Pishevar predicted it would fall in the coming months, it’s certainly headed there. There was a massive sell-off and it was obvious that the markets were nervous.
Industrials, bonds, and indices were not safe. They still aren’t.
It’s unclear as to what made the markets so nervous, but the comments made by Shervin Pishevar on Twitter certainly didn’t help matters. It may be a sign that he is quite capable of spotting trends early on.
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