Shervin Pishevar: Prepare For Hard Times
While the United States economy is currently going along at a very strong rate, not everyone believes this will last. One of these individuals is Shervin Pishevar, one of the early investors of Uber, and one of the world’s most prominent venture capitalists. During a recent 21-hour tweet storm, he laid out many theories regarding the potential downfall of various aspects of the U.S. economy, all of which are quite intriguing.
To begin with, Shervin Pishevar is urging investors big and small to prepare for a drop in the U.S. stock market, possibly by as much as 6,000 points. Believing the bond market is simply too volatile to support the current market’s long run of success, his advice is to pull out of many stocks and instead invest in precious metals such as gold, whose price he feels will continue to increase.
Along with his pessimistic view of the stock market, Shervin Pishevar also sees many of the tech giants in Silicon Valley falling on much harder times in the years ahead. As he views the tech sector, he sees nations such as China and many African countries as well being able to equal or surpass the achievements of Silicon Valley. A strong believer that many U.S. companies have simply become too complacent, Shervin Pishevar suggests it may take many years for U.S. companies to once again pull ahead of their competitors, if indeed they ever do again.
And when it comes to new methods of paying in today’s world, such as the virtual currency Bitcoin, Shervin Pishevar sees tough times ahead for this as well. Believing the currency will drop anywhere from 2,000-5,000 points in its value, he does however feel it will recover and start to see its value increase. But since this is still a relatively new area for many investors, he urges great caution.
While some feel these predictions may not come to pass, others know Shervin Pishevar has a keen insight into many aspects of international economics. Therefore, it will be fascinating to see how many of his predictions come true in the year ahead.