Morgan’s Mike Wilson: ‘I’m A Steadfast Bull’
Morgan Stanley's Mike Wilson, known to some as the man who predicted the Q4 2018 swoon in US equities, has been generally constructive since the pandemic panic lows in March.
In other words, he's been bullish. And that's been the right call.
Headed into 2021, his conviction in that regard isn't shaken despite the rally being "a bit exhausted at the moment," as he described things in a Sunday note.
As those who keep themselves apprised of sellside forecasts and year-ahead outlooks are aware,
“10% upside over the next 12 months.” Will be interesting to see how many air pockets we run into along the way. It’s easy to see 10% next year even for the S&P.
Barring an accident, seems like it should be a party across risk-on assets once vaccinations start for the man-on-the-street. Let’s hope the inoculation includes a few trillion stimulus.
March is when the world starts changing in a real way.
Interesting that Wilson is also calling for a correction before year end.