Wall Street's Biggest Bear Mike Wilson Finally Capitulates: "Equities Have The Green LIght To Ramp Higher"

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by Tyler Durden
Tuesday, Dec 19, 2023 - 02:45 PM

Almost one thousand points higher and almost a year after he said to short the S&P at 3,900 last December, Mike Wilson - who along with JPM's Marko Kolanovic was the most steadfast bear on Wall Street - has finally capitulated.

Recall that on Oct 29, just around the time we and a handful of others said a major market meltup was coming, Morgan Stanley's chief equity strategist Mike Wilson said that his "observations on narrowing breadth, cautious factor leadership, falling earnings revisions and fading consumer and business confidence tell a different story than the consensus, which sees a rally into year-end that's based mostly on bearish sentiment and seasonal tendencies" adding that a "rally into year-end looks more unlikely to us."

In retrospect, "consensus" was right (actually the call for a meltup was anything but consensus, but this is just Mike trying to sound ultra contrarian when in reality he was in the same bearish echo chamber as everyone else in late October), while Wilson's call to kiss a year-end rally goodbye, may go down in history as one of the worst in history...