Mike Wilson - Morgan Stanley

[tsptalk]

Morgan Stanley’s top strategist says stocks are on the precipice of a steep plunge—‘risks for a major correction have rarely been higher’

Morgan Stanley’s Michael Wilson, whose outlook for a market slump in 2023 has yet to materialize, sees the S&P 500 at risk of a near-term drawdown. He expects the benchmark index to end this year at 3,900 — about 10% below Friday’s close — before rising to 4,200 in the second quarter of next year.

“The headwinds significantly outweigh the tailwinds and we believe risks for a major correction have rarely been higher,” Wilson said in a client note on Monday.

https://fortune.com/2023/06/26/morga...rarely-higher/

[tsptalk]

Maybe the only thing harder than being wrong, is admitting it.

PUBLISHED MON, JUN 26 20239:26 AM EDTUPDATED MON, JUN 26 202312:43 PM EDT

Morgan Stanley’s Mike Wilson says risks for a major market correction ‘have rarely been higher’

Jul 25, 2023 – 11.15am

For months, Mike Wilson has insisted Wall Street’s rally would run out of puff. Now he’s conceded he was wrong, although he’s still worried about interest rates and AI hype.

7/31/23

Morgan Stanley Strategists Say US Stocks Are in a 2019-Like Rally
The market is in a policy-driven, late-cycle rally: Wilson
Strategist called 2022 rout, but remained pessimistic in 2023

https://www.bloomberg.com/news/artic...ally#xj4y7vzkg

[Bullitt]

Rare to see someone admit being wrong like that, but he's always chosen to be out there in the media talking his book, and is not always bearish.

This is such a hard concept for people to grasp. You can get it right and get out at the "top", but the chances of also getting the entry point right are very low. It's easy to get caught up in the sentiment wave whether it's bullish or bearish.