Trying to time a market top or bottom is a fool’s mission but recognizing that pessimism has already been substantially priced into a market provides an excellent opportunity to make money. There are many positives in our current economic picture which belie a severe economic recession in 2023. A moderate downturn has been priced into the stock market. The strength of the financial system, corporations and individuals along with very low unemployment and solid wage growth will prevent a mild downturn in economic growth from becoming a severe recession.