'Hold onto your money': Jeff Bezos issues a financial warning, says you might wa...

Amazon founder and executive chairman Jeff Bezos is sounding the alarm.

In an interview with CNN, Bezos says that the economy “does not look good right now.”

“Things are slowing down. You're seeing layoffs in many many sectors of the economy.”

And that means you might want to tighten up your budget.

“If you're an individual considering purchasing a big-screen TV, you might want to wait, hold onto your money, and see what transpires,” the billionaire recommends. “The same is true with a new automobile, refrigerator, or whatever else. Just remove some risk from the equation.”

That’s not a good sign for investors.

But not all businesses are created equal. Some — like the three listed below — might be able to perform well even if the economy falls into a recession.

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Utilities

The utility sector consists of companies that provide electricity, water, natural gas and other essential services to homes and businesses.

The sector isn’t a fascinating one, but it is recession-resistant: No matter what happens to the economy, people will still need to heat their homes in the winter and turn the lights on at night.

High barriers to entry protect the profits of existing utility companies. Building the infrastructure needed to deliver gas, water, or electricity is quite expensive, and the industry is highly regulated by the government.

Thanks to the recurring nature of business, the sector is also known for paying reliable dividends.

If you are looking for the best utility stocks, names in the Utilities Select Sector SPDR Fund (PCX:XLU) provide a good starting point for further research.