I follow ZeroHedge, but this statistic isn't very helpful without knowing the number of false positives or incorrect timing.
"predicted 83 of the last 7 downturns" implies a false positive rate of at least 76 incorrect predictions for 7 correct ones.
Of course, if they made 83 downturn predictions but didn't correctly predict the 7 that actually occurred, thee false positive rate could also be worse than that.
> The stock market has predicted nine of the past five recessions—a joke from master Keynesian of decades ago Paul Samuelson.
https://www.forbes.com/sites/briandomitrovic/2018/11/22/the-...