Today’s guest is Mike Wilson, Chief U.S. Equity Strategist and Chief Investment Officer for Morgan Stanley, and one of the biggest bears on the Street today.
In today’s episode, Mike starts by touching on the price action we’ve seen so far in 2023, which he says is driven by global liquidity instead of fundamental factors. Then he gets into his outlook for 2023. He has a non-consensus view that we’re in the early days of an earnings recession and expects earnings for the S&P 500 this year to come in around $195 compared to the Street average of $210 - $215.
Before we let Mike go, we have him share what he is positive on in the US. He explains why operational efficiency is the factor he likes the most right now, and why areas like industrials, financials, commodities, and even some technology names fit that criteria.
-----
Follow Meb on Twitter, LinkedIn and YouTube
For detailed show notes, click here
To learn more about our funds and follow us, subscribe to our mailing list or visit us at cambriainvestments.com
-----
Today's episode is sponsored by YCharts. YCharts enables financial advisors to make smarter investment decisions and better communicate with clients. YCharts offers a suite of intuitive tools, including numerous visualizations, comprehensive security screeners, portfolio construction, communication outputs, and market monitoring. Visit YCharts to start your free trial and be sure to mention "Meb" for 20% off your subscription. (New clients only).
Today’s episode is sponsored by The Idea Farm. The Idea Farm gives you access to over $100,000 worth of investing research, the kind usually read by only the world’s largest institutions, funds, and money managers. Subscribe for free here.
-----
Interested in sponsoring the show? Email us at Feedback@TheMebFaberShow.com
-----
Past guests include Ed Thorp, Richard Thaler, Jeremy Grantham, Joel Greenblatt, Campbell Harvey, Ivy Zelman, Kathryn Kaminski, Jason Calacanis, Whitney Baker, Aswath Damodaran, Howard Marks, Tom Barton, and many more.
-----
Meb's invested in some awesome startups that have passed along discounts to our listeners. Check them out here!
Short Seller Bill Martin Bet Against Silicon Valley Bank in January. Here's Why | #475
Wes Gray & Jack Vogel, Alpha Architect - BOXX, HIDE, & Why Trend Following is Timeless. PLUS: Embarrassing Career Moments | #474
Jeroen Blokland, True Insights - Multi Asset Masterclass | #473
Gary Zimmerman, MaxMyInterest - SVB, FDIC, & Improving ROI on Cash | #471
How To Invest in Timberland with AcreTrader’s Carter Malloy & Mark Foley | #470
Jason Calacanis on Democratizing Venture Capital, How to Handle Large Winners, & Why The Price You Pay Matters...Even in Venture Capital | #469
Kate Moore, BlackRock - How to Invest in Consumer Disruption, Natural Resources, & Automation | #468
Starkiller Capital’s Leigh Drogen & Corey Hoffstein on Crypto Momentum, Conspiracies, GBTC, FTX, & More | #467
Sean Goldsmith, The Zero Proof – The Golden Age for Non-Alcoholic Beverages | #466
Jim O'Shaughnessy, OSV - Unleashing The World's Infinite Potential | #465
Radio Show: The Gates Are Going Up! PLUS: The Set Up For Value & Trend-Following in 2023 | #464
J.P. Morgan's Dr. David Kelly on Why He Believes Foreign Stocks Are Attractive, Inflation Will Subside, & The Debt Ceiling is a "Doomsday Machine" | #463
Porter Stansberry on a Potential Recession, Opportunities in Distressed Debt, & The Bull Case for Energy Stocks | #462
Top Podcasts of 2022: Rob Arnott & Campbell Harvey, Whitney Baker, Harris “Kuppy” Kupperman, Marc Cohodes, & Peter Zeihan | #461
Louisa Nicola – How To Perform At Your Best Physically & Mentally | #460
Louis-Vincent Gave, Gavekal - Investment Themes for 2023 | #459
Bob Elliott, Unlimited Funds – A Macro Masterclass | #458
Damien Bisserier and Alex Shahidi on Risk Parity & Investing for All Market Environments | #457
Marc Cohodes on SBF, Fraud, & The FTX Death Spiral | #456
Create your
podcast in
minutes
It is Free
The Commercial Edge: Unleash the Power of People
The emPOWERed Half Hour
U.S Property Podcast
Aligned Money Show
Dubai Property Podcast
The Ramsey Show
The Clark Howard Podcast