The Starwood Capital founder told CNBC on Friday that he expects the stock market to mount a fast recovery once the worst of the coronavirus outbreak is over.
Global investor Barry Sternlicht told CNBC on Friday that he expects the stock market to mount a fast recovery once the worst of the coronavirus outbreak is over.However, the founder and chief of investment firm Starwood Capital said onthat he sees a "V-shaped almost for sure" bounce back for the market, meaning a quick down and a quick back up.
Sternlicht, who has invested and run businesses through many financial crises, called the outbreak a short-term issue that "will be finished here, whether it's 30 days or 60 days or 90 days." "I ran Starwood Hotels through 9/11, through SARS, though the financial crisis. Hotels came back. Everything came back," he said. "This will be even faster because this is really a health-care scare. And all the bad news is roughly out there."
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