Local economists agree that during times of recession the rich hold on to as many cash cows as they can and don’t go out splurging or spending all of their stimulus check (hint, hint).
For example, many cite the reason why luxury stores are also suffering during this time—the rich hold on to their money in order to be cash-heavy coming out of the recession then they can buy a lot more when prices are low.
With that said, here are some of the stocks many recommend (U.S. News, Forbes, Fortune, etc) buying to build up your portfolio and not just survive during a recession or pandemic, but thrive.
That year, Hershey reported sales of $5.13 billion, 3.8% higher than in 2007.
During the first month of the pandemic, alcohol sales were up 55% compared to the same period a year earlier.
