JP Morgan strategist Marko Kolanovic made his name as a market structure analyst, but at one point he parlayed his fame into a job as an equity strategist, and it didn’t go well, considering his bearish stance hit a roaring bull. market.
However, he does not hesitate and writes today:
“…Our cautious stance has been based on our view that there is no bullish rerating, and that any upside must come from earnings growth, which we view as insufficient to bear the equity’s risk even under best-case scenario assumptions. For stocks to avoid a 20%+ correction You have to believe that technology will become a much more important driver of growth for the broader economy in a short time. While we believe that technology will remain the main driver of economic growth for years to come, we do not believe that its impact on the profits and losses of companies across the board will be that profound. “Suddenly, so we remain cautious here, expecting economic growth to weaken, stocks to correct, and investors looking for a better entry point.”
Searching for “Kolanovic” on our website shows his constant negativity.
The good news is that he will be right eventually, although markets often turn over the moment the bears give up.
