Over the past year, we have repeatedly demonstrated that one of most entertaining and incestuous relationships on Wall Street was that between JPM's in-house permabear strategist (not to be confused with his stint as a permabull during all of 2022 when stocks cratered), Marko Kolanovic, who very theatrically warns every single week of imminent market doom and tells his clients to short the market on one hand, and the JPMorgan trading desk, which has been long and right, for the entire past year on the other. To wit:
- JPMorgan's Trading Desk Apologizes For Listening To Marko Kolanovic, Turns "Tactically Bullish" (Feb 2024)
- JPM trading desk: "buy stocks"; JPM Marko Kolanovic: "sell stocks" (Jan 2024)
- JPMorgan's Uber-Bearish Marko Kolanovic Rages At JPMorgan Uber-Bullish Trading Desk (Nov 2023)
And even though we have said ever since Jan 2023 that the market meltup will never end until Marko finally throws in the towel and turns bearish...
