- Chris Hyzy oversees $3.8 trillion as investment chief for Merrill and Bank of America Private Bank.
- He says there should be three or four good stock buying opportunities in the next few months.
- He told Insider what to buy in a secular bull market that will outlast a potential recession.
A consensus is taking hold that the US will go through a recession fairly soon, and that it will be “mild” as recessions go. Chris Hyzy of Bank of America says those descriptions undersell how strange that recession could be.
“In the next few months, between now and the end of the year, we will likely see some of the most confusing economic data that we’ve experienced in two decades,” Hyzy told Insider in a recent interview. He is the chief investment officer for Merrill and Bank of America Private Bank, which had a total of $3.8 trillion in client balances at the end of June.
But now, Hyzy says the US is looking at another recession barely two years after the last one ended, coming hot on the heels of a bull market fueled by stimulus payments and low interest rates. And that recession, assuming it happens, will be one that includes a strong job market and healthy levels of spending by consumers.