On February 5, 2018, the stock market experienced a dramatic drop. It is one of steepest drops it has experienced in recent history. This set off a Twitter storm by Shervin Pishevar, which produced a lot of buzz on social media. In 21 hours, he tweeted out 50 different points on why the stock market is heading downward, why it will continue to see more slippage in the future, and many other points about why the economic situation in the United States is doing so bad.
This drop in the stock market caused Shervin Pishevar to start using his Twitter account after it had experienced a dry spell. Shervin Pishevar is one of the co-founders of Investment company. He hadn’t used this social media account since mid-December when he announced he would be resigning from that venture capital fund. He is an entrepreneur, investor, and philanthropist. He has received several awards and has been recognized for the work he has done. One example is when he was awarded the Ellis Island Medal of Honor in the year 2016.
Shervin Pishevar feels very strongly about the downturn of the US economy. He feels that the slippage that occurred on February 5 is just the beginning of a crisis that the market is going to experience in coming months. He specifically mentioned that he feels it will go down 6,000 aggregate points. He feels that this downturn has to do with too many tax giveaways as well as a rise in interest rates and credit account deficits.
According to Shervin Pishevar, big funds are at risk for failure in these difficult economic times. He was especially concerned with Managed Future Funds And Volatility Indices. Toward the beginning of the tweet storm, he said that when the market tanks, major funds get taken out.
There are also dark predictions for major companies in the US, including Google, Microsoft, and Apple. He says that these are monopolies that will likely experience a complete downfall or at least their influence will be diminished. This will ultimately fail the system at large. He feels that this is just the way evolution works, liking it to an old forest burning to make way for new trees.