That means the elevated level of reward for investors won't last long.
The same pattern will play out by the end of the year, he said. That's because the Fed's role hasn't changed in the past few months, even though many other things have. It's still suppressing volatility and keeping rates extremely low. But he advised that investors act fast in either event and said it was time to start buying on the dips again to take advantage of momentary sell-offs.
"The bad actors of the last cycle are getting bailed out, which could ultimately limit the malaise we typically get in a recession," he said. "The worst stocks will likely have the biggest recoveries."Along with his higher-risk recommendation, Wilson is telling investors it's a good time to buy small-cap stocks. They underperformed their larger rivals throughout the 2010s bull market, and that trend grew only more dramatic in the past two years.
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