— A flight to safety … the yield on the 10-year treasury drops 15% in two weeks in a raging bull market. — For some investors (computerized or not) fears of higher interest rates and inflation trump a rip-roaring economy with a tankful of fiscal stimulus and easy monetary policy as far as the eye can…
Tag: Morgan Stanley
September … the worst month for stocks … imminent corrections and other things that scare us
–Is September as bad for stocks as the media would have you believe? –Is a significant correction imminent, and does the “September effect” make it more likely? –The bifurcated market … the shoe may be moving to the other foot. September, bad for stocks? The truth will set you free. The freedom I’m referring to here is the…
“THE WRONG KIND OF STOCKS ARE LEADING THE STOCK MARKET TO RECORDS”
You cannot make this stuff up! Thus spake Mike Wilson, Morgan Stanley’s U.S. chief equity strategists. The “wrong kind of stocks” in Wilson’s mind are defensive … names like Pfizer, Merck and HCA. This is all happening while the faster growth leadership names like Amazon and Alphabet (GOOG) have been lagging. To Wilson this means…
“OMG!!!”
It is obvious from Friday’s market action that the end is nigh, or we are on the “eve of destruction”: or better yet, stock market Armageddon has arrived. What tripped this all off? A well-respected value manager, Marty Whitman and his firm Third Avenue Management got themselves a little bit too far out over…