Sell Hubris, Buy Humiliation
As ZeroHedge has pointed out, Bank of America's Michael Hartnett has been one of Wall Street's most accurate analysts recently.
Chart via ZeroHedge
In Hartnett's latest weekly note, summarized by ZeroHedge here, he offered a contrarian trade for 2023, buy emerging markets:
In line with this, his trading recommendation conclusion is, as usual,toSell Hubris, Buy Humiliation:
- US equities as % MSCI World Index @ new all-time high 66%;
- Tesla(NASDAQ:TESLA) market cap same as entire European banking sector (~$750bn);
- regime change from Globalization to Isolationism = EM disinvestment + FX devaluation in "weak links" (Sri Lanka...
Login or create a forever free account to read this news
Sign up/Log in