HAS WALL STREET NO SHAME?

You gotta love this.

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For the last nearly 3 years, Morgan Stanley’s chief U.S. equity strategist earned the nickname “perma-bear” for his consistently gloomy market forecasts.

Today, MarketWatch features him as if none of that ever happened. Expecting people to have short memories, now MS’s chief equity strategist is declaring three reasons why the market will now rise. Hello-o-o! So now MS has missed it all, but thinks the new highs of today mean we should finally jump in?

MS's 3 reasons to BUY NOW?

Improving earnings breadth, I will give them that — but only temporarily.

Anticipated Fed rate cuts, old news and will be a ho-hum when it happens, and

Market resilience to geopolitical shocks.

Speaking as a geopolitical student of history, just because this week Iran has not attacked anyone, this week the Chinese are playing nice, and this week no African government has been overthrown does not mean investors and citizens are "resilient" enough to bear more tariffs, more verbal and kinetic attacks, and more slaps up the side of our heads.

© Joseph L Shaefer 2025

*I have decided to post more frequently, even if just a snippet like this that strikes me as particularly interesting or absurd. Later this year, I will add podcasts and more…*