Loading ...BTFD “Is Coming To An End” JPM Warns, As It Lowers Equity Allocation Most In 6 Years
Year end is usually a time when Wall Street strategists, so close to that holiday bonus check they can practically smell it, break out optimstic forecasts for the next year and tell their clients to forget any of the pain experienced in the current year and focus on the coming upside. Not so from JPMorgan, however, whose equity strategist Mislav Matejka has just released a note in which the bank lays out why it is the most bearish on stocks it has been in the past 6 years, and with a call that will make every E-trade baby accustomed to BTFDing shiver in their diapers: “The long period of indiscriminately buying any dip might be coming to an end.”