Recession is coming and we know it. In some places it is staring us right in the face. Unemployment, rising cost of living, increasing food prices, falling stocks etc are some of the negative effects associated with recession. Despite this seemingly bad news,
Warren Buffet said In short, bad news is an investors best friend. And another quote by someone goes thus "millionaires are made during a recession". I have been recently laid-off work due to the recent economic crisis in my country. I do not want to see this as a bad thing. So I ask what hidden opportunities does this recession offer? How can one take opportunity of the recession to become rich or at least not go broke?
It is possible to make money during a recession however for that you need to have money already saved, most likely what he means by that is that during a recession even good assets go down in value together with the bad assets, this means that you can buy them for a huge discount and then simply wait for the market to eventually recover, this is something we are seeing in this market already in which the price of bitcoin is down and the smart investors are taking advantage of it in order to buy all the bitcoin they can.