Business
Morgan Stanley’s Wilson sees froth and a correction – The Australian Financial Review
Morgan Stanley’s chief US equity strategist Mike Wilson said there is downside risk until both institutional and retail investors further reduce their leverage.
Mr Wilsons note was written ahead on the weekend. US equities rallied sharply to start their week, with tech shares leading.
There was a mixed performance for some of the short stocks in focus last week; Koss fell 45 per cent; GameStop shed 32 per cent; AMC Entertainment edged 0.3 per cent up; BlackBerry rose 4.7per cent.
Mr Wilson said the current environment has drawn comparisons to the tech bubble in 2000. On some metrics, particularly around sentiment and positioning, we agree there are signs…
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