A hedge-fund manager explains how billionaire investors prepare for recessions years in advance, then treat downturns as buying opportunities. While most people panic, they're hiring, acquiring deals, and expanding. The mindset shift: see economic winter as the moment to move.
Chapters
Here's the economic winter mindset that I've learned from multibillion-dollar fund managers. Now, as you know, I run a hedge fund and we launched 120 funds out of our group last year. And I get to hang around and be around huge multi-hundred-million-dollar and billion-dollar fund managers a lot. And you would not believe the level of optimism and excitement they have right now during an economic winter or going into an economic winter. I mean, I'll sit across from them like this and they talk about the deals they're going to buy, the businesses they're going to accumulate. They're going to bring in different employees, how they're going to expand, and how they've been waiting and praying for an economic downturn for the last 5 or 6 years. So if some of the smartest people in the world are optimistic about a time like right now, I think me and you can be the same way.