Publications

- November 1, 2019: Vol. 12, Number 10

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Who is swimming naked? “You only find out who is swimming naked when the tide goes out.” — Warren Buffett

by Chase McWhorter

Many central bankers, economists and pundits are beginning to warn of an imminent global recession. Personally, despite all the issues piling up, I take that with a huge grain of salt considering only a handful of contrarians actually predicted the global financial crisis, while “experts” such as Mad Money host Jim Cramer still have jobs after shouting, “Bear Stearns will be fine!” days before it shuttered its overleveraged doors. The contrarian in me would take into consideration how many of these experts are predicting a recession, and contend we’ll have double-digit growth globally until 2030!

When — not if — a recession hits, infrastructure will be an asset class many investors will be keeping an eye on very intently. Will it live up to the “defensive” image? What strategies are most resilient? Or, put more bluntly, who is actually swimming naked?

Once the tide recedes, infrastructure investors will have many questions to ponder, but I be

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