How to invest in a recession, tech bubble repeat: Investment chief

AI is far from the only area of the market with overly optimistic sentiment, in Schutte's view. He also believes positive rhetoric about the US economy has reached a boiling point.

There's no bigger mystery in markets than how the economy, specifically the labor market, has held up so well this year. Historically high inflation and restrictive interest ratesInstead, investors seemed to get the best of both worlds. Unless there's a sudden influx of workers that drives down wage growth through competition, the investment chief said the economy will steadily lose momentum. The last three recessions besides 2020 were preceded by interest rate hikes in response to a"I think that there's a recession on the doorstep at some point," Schutte said.

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