While people on Twitter know there will be surprises along the way, nobody expected the surprises that would come from Shervin Pishevar. One of the world’s best-known businessmen, he recently expressed his thoughts on many areas of the world economy. All in all, he spent more than 21 hours on Twitter, totaling more than 50 messages in the process. Touching on such subjects as the stock market, technology, virtual currencies, and much more, he definitely made it an interesting day for those who followed him.
In regards to the United States stock market, Shervin Pishevar believes the correction many experts believe is well past due is about to arrive. While giving no specifics, he does predict the market will fall by as much as 6,000 points over the next year. Citing his belief this will be driven by a volatile bond market, he does suggest investors looking to protect their portfolios do so by investing in gold, which is regularly a safe haven during difficult economic times.
Once his followers let this prediction sink in, he moved on to what he believes is the demise of Silicon Valley and the U.S. lead in technological innovation. As Shervin Pishevar observes, foreign competition from China and elsewhere has put enormous pressure on Silicon Valley companies, and they have not responded well to this pressure. As a result, he sees Silicon Valley playing catch-up for perhaps a decade or more, and will have to take new approaches to innovation and training in order to reclaim their leadership role worldwide.
Finally, Bitcoin was not immune to his predictions. According to Shervin Pishevar, the popular virtual currency will also experience a drop similar to that of the stock market. Predicting a 5,000 point drop, he does however see Bitcoin bouncing back much better than stocks. In fact, he urges investors to stay the course with the virtual currency, predicting it will surge ahead to be stronger than ever.
While everyone was taken by surprise at this tweet storm, it’s a sure bet there will be even more surprises from Shervin Pishevar in the days ahead.