What developments does the expert who oversees a $500 billion portfolio expect in 2023 and the next 10 years?

Nothing is ever repeated in the market. At most, some scenarios may be similar. But now a well-known investment strategist warns that nothing may ever be the same!

Jurrien Timmer, Director of Global Macro at Fidelity Investments links history and current economic trends to see where markets are headed. Although stocks are much cheaper today than a year ago, he fears that American investors are still too optimistic about the prospects for the economy and corporate profits. And now, in a recent interview, he described his concerns and predictions for 2023.

First up, of course, was the issue of the recession and its eventual course.

"The arrival of a recession seems obvious here, because the Treasury yield curve is the most inverted in 40 years and the Federal Reserve intends to raise interest rates above 5%. Every time the Fed has gotten that far into the restrictive range - two to three percentage points above the neutral rate at which the economy is theoretically in equilibrium - there…