Tuesday, November 13, 2007

Morgan Stanley Strategist: Out of Equities

The Morgan Stanley equities strategist who has twice in five months correctly called turns in the stock market on Monday dropped his bullish message, saying that the growing credit crunch could lead to a recession.

Teun Draaisma, head of the investment bank’s equity strategy team, called on investors to cash in recent profits in equities and said cash was now the investment class of choice....

From the Financial Times