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’Equities, Japan and next decade
Morgan Stanley’s Graham Secker makes some interesting observations in his 2012 outlook report.
Chief among them is that the investment framework of the last 25 years is increasingly irrelevant and that Japan offers the best guide to what might happen in the equity market over the next decade.
European equities – trick or treat?
In keeping with the bearish mood this Monday morning, we present selected lowlights from the latest Graham Secker note.
Morgan Stanley’s European strategist has downgraded equities to “underweight” following the double-digit rally,
A tale of two strategists
Whatever it is Merrill Lynch’s David Bianco is smoking we’d like some of it…
… because we can’t help feeling things are going to get a whole lot worse before they get any better.
Much like Morgan Stanley’s Graham Secker in fact,
G.R.I.M. markets
Forget douple dip. What we’re really facing for the next couple of years are G.R.I.M markets – Growth Really Is Mediocre (geddit).
That’s the view of Graham Secker, Teun Draaisma’s successor at Morgan Stanley,
Reasons to buy high yielders
Morgan Stanley’s Graham Secker offered three reasons, to be precise. But first a bit of context.
Secker calculates that since 1926, the real price return on European stocks has been just 1.3 per cent per annum,
UK economy like an episode of Eastenders, says Morgan Stanley
And that’s not because an ageing, vituperative boss is on their way out.
The UK economy is in a sorry state compared to its global peers, says Morgan Stanley strategist Graham Secker.
Macro watchers in the UK have lots to keep their attention just now;
Sterling and the UK stock market
Sterling at six month low, FTSE 100 at year high. Explain.
One answer to that teaser could be that bouts of sterling weakness are often good news for the UK stock market.
Here’s Morgan Stanley strategist Graham Secker on the subject: