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How To Make Millions Of Dollars During A Recession
A billionaire’s guide to getting rich during an economic collapse
During the 2008 Financial Crisis, Michael Burry made $800 million for his hedge fund. Of which, $100 million was personal profit.
He’s not the only person to get wealthy during an economic collapse.
In an interview with CNBC, Warren Buffet, who has a net worth of $110 billion, says he hopes to see a lot more recessions in the future.
The reason? Stock prices nosedive during recessions. Millionaires and billionaires purchase them for pennies on the dollar. Then, once stock prices recover, the value of their holdings skyrocket, causing them to get significantly richer.
Here’s a more detailed explanation of the strategies billionaires can use to become wealthy during a recession:
Short The Market And Wait For The Price To Go Down
“Short selling is an investment or trading strategy that speculates on the decline in a stock or other security’s price,” according to Investopedia. “Short-sellers bet on, and profit from, a drop in a security’s price. This can be contrasted with long investors who want the price to go up.”
