Sell In May? Morgan’s Mike Wilson Says ‘No.’ Here’s Why…
“In an era of sound bites and headlines, it’s easy to forget why one really owns stocks…”
“In an era of sound bites and headlines, it’s easy to forget why one really owns stocks…”
Who needs the real thing, anyway?
“Edicts” and “scary movies”.
“…if the amount of ‘oxygen’ is insufficient, some parts of the economy will suffer irreparable damage.”
“…sobering economic realities are increasingly driving the moves in asset prices”.
“Black & white memories”.
“Despite increasing our loan loss reserves, we earned $4 billion this quarter.”
“Unhindered by moral hazard”…
“Maybe direct Fed buying of the S&P might break the link.”
“Yet, without fresh capital, businesses will fold”.
I’m guessing “Great Depression II” wouldn’t poll well.
There have only been two other periods characterized by these kinds of wild swings: The GFC and the Depression.
Platitudes.
“Governments will not be able to minimize both deaths from COVID-19 and the economic impact of viral spread.”
“Try 8x instead at the bottom of the next recession and see where that takes us!”
It’s pretty glaring, folks.
“Aggregate gamma on the S&P 500 was positive for more than three-fourths of 2019”.
“Will you say, ‘Thank you, Mr. President,’ at least, huh?â€Â
Obviously, the risk here is that stocks have it wrong.
“I’m 66, I might be dead by the time it happens”.
Another “who you gonna believe?” moment.
But, you know what they say about the “best laid plans of mice and men”…
“With the onset of the trade war in the first quarter of 2018, the impact of Trump’s policies on markets changed drastically”.
The good, the bad, the bearish and the bullish.
By all means, be greedy. Be selfish. But…
This should put to bed the recession calls – at least for a month.
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