Wall Street's top stock bear issues mea culpa on correction call [MSN Money]
Barclays PLC (BCS)
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Source: MSN Money
(Bloomberg) -- Mike Wilson has an admission to make. Morgan Stanley’s chief U.S. equity strategist was “wrong” when he predicted in July that stocks faced a selloff that could be worse than the one in February, Wilson wrote in a note to clients over the weekend. The S&P 500 surged 6.7 percent in the past two months. While he scrapped his call for a correction, he’s still cautious on the market, saying that the participation among stocks is not as broad as many investors thought. He held out the possibility that his prediction might have just been early, but noted that that “amounts to the same thing” as not being right. © Bloomberg Wilson is the latest Wall Street strategist to surrender to a market whose gains have proved hard to stop, whether it’s a global trade war, rising interest rates or the threat of contagion from emerging assets. The S&P 500 just finished August with a fifth straight monthly gain, climbing above 2,900 for the first time and by some measu
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