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- Tesla CEO Elon Musk warned of a recession in the company's fourth-quarter earnings update.
- But investors shouldn't fret about his outlook, according to The Future Fund co-founder Gary Black.
- Any economic downturn will be shallow because the Federal Reserve can cut interest rates whenever it wants, Black said Thursday.
Elon Musk's strengths lie in developing electric cars – but investors are unlikely to pay much attention to his recent warning that the US economy could slip into a deep recession this year, according to longtime Tesla bull Gary Black.