A bearish stance on the wider stock market isn't keeping Mike Wilson entirely on the sidelines. Morgan Stanley's chief U.S., equity strategist said the broad market has as bad of a risk-reward ratio as there has been throughout the bear market. And he said the slow pace of an earnings recession can keep institutional clients more exposed than they should be.
"They're built with human beings, with human labor, with supply chain. They're built for a pandemic," said Steve Grasso, CEO of Grasso Capital, on CNBC's "Fast Money" following the company's earnings report. "The pandemic is over, so they have to … slowly reduce that headcount." Morgan Stanley expects the stock to gain more than 50% this year after losing about the same amount in 2022.
CNBC you keep shoving Tom Lee at us but always restrict Mike Wilson. That is bull crap.