FYI: Mike Wilson was the killjoy at the Wall Street strategists’ New Year’s Eve party as 2018 dawned. The chief investment officer at Morgan Stanley set a year-end target for stocks that was far below consensus, and he predicted a “rolling bear market,” in which the weakest assets (hello Bitcoin) would fall first and hardest. At midyear, he recommended that investors get defensive, and he downgraded tech stocks and small-caps right before they tanked.
If that sounds familiar, it should. The markets followed his script almost exactly. Wilson is now writing his predictions for the market’s next act, so naturally we checked in for a preview. He says we should expect another big dip soon. And that, he says, is good news.
Regards,
Ted
https://www.barrons.com/articles/morgan-stanleys-mike-wilson-sees-a-buying-opportunity-ahead-51549063951?mod=djem_b_Weekly Feed for Barrons Magazine
