Premium"Investors See Ghosts Around Every Corner": Goldman Partner Says Don't Fight The Narrowness As Just 10 Stocks Drive 68% Of Q3 Earnings Growth
It was a week in which a "stellar" 10Y auction, record numbers from the two most important chipmakers on the planet, and a French populist promising more austerity than the establishment all somehow ended up as reasons to sell. Goldman Sachs partner Mark Wilson has a diagnosis: the news was fine, it's the patient that isn't.
In his latest 'weekly mash' (available to pro subs), the top Goldman trader, fresh off two weeks on the road with clients, writes that the mood out there now matches the positioning data, and the positioning data is about as bad as it gets: