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By Brice Wallace

John Tousley has some advice for stockholders who believe a recession will happen sometime in the next two years.

“You do nothing.”

Speaking at a Salt Lake City Rotary Club luncheon last week, the Goldman Sachs executive said that while an economic model pegs the risk of a recession at 33 percent — it was 19 percent a year ago — historic data indicates that stock market returns two years before a recession hits is about 21 percent. That’s the same level as last year’s S&P 500 returns.

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