Three weeks ago, and almost one thousand points higher after he said to short the S&P at 3,900 in December 2022, Morgan Stanley's Mike Wilson - who along with JPM's Marko Kolanovic was the most steadfast bear on Wall Street - finally capitulated, and said "equities have the green light to ramp higher"... which is ironic because less than three months ago, on Oct 29, and just around the time we and a handful of others said a major market meltup was coming (it proved to be the most epic year-end meltup in modern history), Wilson said that a "rally into year-end looks more unlikely to us."
We all know what happened next.
All right, so 2023 wasn't exactly Mike Wilson's year, and in fact fading Mike at every turn proved to be one of the most successful strategies of the past year. What about 2024... or rather what does Wilson think will happen this year (if only for those who are willing to continue fading his calls).
